Coldwell Banker Commercial Elite Brokers Sale of Multifamily Site for $3.264M

Fredericksburg, VA (06-09-16) – Brian Cunningham and Carl Braun with Coldwell Banker Commercial Elite recently closed on the sale of a 6.27 Acre multifamily community site in Spotsylvania County, Virginia for $3.264M. The property is located at the corner of Route 17 & Route 2/Tidewater Trail and part of Tricord’s 188 Acre “New Post on the Rappahannock” mixed use development. The purchaser/developer, Humanities Foundation is planning a 102 unit apartment community with plans to break ground fall 2016.

The newly planned apartment community at New Post on the Rappahannock will add to development already underway including a 117 lot residential community, by Drees Homes, that will feature a mix of Townhomes and Single Family. Tricord is also planning a single family, estate lot community with 92 available lots, 26 of which will be Rappahannock River waterfront.

Braun and Cunningham are correspondingly working on attracting users/tenants for the 14 +/- acre commercial component of the project that will be delivered pad ready.

New Post on the Rappahannock is also home to the Spotsylvania Sportsplex, a 19 field facility operated by VYSA (Virginia Youth Soccer Association) and FASA (Fredericksburg Area Soccer Association. The Sportsplex holds numerous tournaments and regular season games drawing over 250,000 people annually to the development.

Humanities Foundation vice president for public relations Shane Doran said that complex was one of the reasons Humanities Foundation was interested in the project. Doran mentioned that they focus around “Family Oriented” development and the sportsplex  was an attractive piece of the project.

Doran also stated that Humanities Foundation was drawn to the Fredericksburg Region because of the business friendly environment,  proximity to Northern Virginia and access to that workforce  calling Fredericksburg a “natural progression” for the company, which is building developments in other Virginia localities including Bealeton, Staunton and Petersburg.

Braun and Cunningham are also working with Humanities Foundation to identify other potential locations for new community development in Virginia.

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