HFF, Inc. : HFF closes $143.6 million sale of MeadWestvaco World Headquarters in Richmond, Virginia WASHINGTON, D.C. - July 9, 2013 - HFF announced today that it has closed the sale of the MeadWestvaco World Headquarters, a 310,950-square-foot, trophy office building in Richmond, Virginia. HFF marketed the property on behalf of the seller, NewMarket Corporation. Select Income REIT purchased the asset for $143.6 million free and clear of existing debt, excluding transaction costs. The MeadWestvaco World Headquarters is located at 501 South 5th Street on the banks of the James River close to Interstates 95 and 195, James River Park and Richmond's River District. Completed in 2009 as a build-to-suit for the global packing and packaging solutions firm, the nine-story property features a conference and training center, cafeteria, coffee shop, fitness center with locker rooms, and has a Four Globes rating from the Green Building Initiative, which is the highest rating available. The HFF investment sales team representing the seller was led by executive managing director Stephen Conley, senior managing directors Dek Potts, Jim Meisel and Andrew Weir and senior real estate analyst Jess Dickinson. According to Dek Potts, "HFF was very pleased with the response from the investment community for this trophy quality asset. Everyone who toured the property recognized its irreplaceable location on the banks of the James River and the intrinsic value of the asset, as well as MeadWestvaco's strong credit and commitment to Richmond. These qualities led to highly competitive pricing for the asset." NewMarket Corporation through its subsidiaries, Afton Chemical Corporation and Ethyl Corporation, develops, manufactures, blends, and delivers chemical additives that enhance the performance of petroleum products. From custom-formulated chemical blends to market-general additive components, the NewMarket family of companies provides the world with the technology to make fuels burn cleaner, engines run smoother and machines last longer. Select Income REIT (SIR) is a real estate investment trust, or REIT, which primarily owns properties that are net-leased to single tenants. Approximately half of SIR's current rents are from land SIR owns in Hawaii, which is leased under long-term leases to tenants, many of whom own buildings and operate their businesses on SIR's property. The remaining revenues come from single-tenant net-leased office and industrial properties located throughout the United States. HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff. CONTACTS: STEPHEN C. CONLEY HFF Executive Managing Director (202) 533-2500 email@example.com STEPHEN "DEK" POTTS HFF Senior Managing Director (202) 533-2500 firstname.lastname@example.org JAMES. A. MEISEL HFF Senior Managing Director (202) 533-2500 email@example.com ANDREW M. WEIR HFF Senior Managing Director (202) 533-2500 firstname.lastname@example.org KRISTEN M. MURPHY HFF Associate Director, Marketing (617) 338-0990 email@example.com ------------------------------------------------------------------------------ This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: HFF, Inc. via Thomson Reuters ONE HUG#1715299
HFF, Inc. : HFF closes $143.6 million sale of MeadWestvaco World Headquarters in Richmond, Virginia
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