Commission Buys Office Building for $20.4 Million

Wednesday, June 13, 2018 | 0

The Virginia Workers’ Compensation Commission is paying $20.4 million to buy a downtown Richmond office building that it has been leasing since last year.

The commission bought the building at 333 E. Franklin St. from Hourigan Development, which purchased it for $13 million last year, Richmond BizSense reported. The sale closed on June 4.

Hourigan renovated the 125,000-square-foot property. The state agency, which has about 300 employees, moved into the building in December.

The building was previously home to Media General, a media company that was acquired last year by Nexstar Broadcasting Group.