City records indicate this is the second time VCU’s owned the building. (Mike Platania photo)
VCU Health has made an office play in the Southside.
Last week the VCU Health System Authority purchased a four-story, 109,000-square-foot office building at 8720 Stony Point Parkway for $16 million, city real estate records show.
The seller was Highwoods Properties, the Raleigh-based real estate firm that owns much of Innsbrook.
The deal adds to VCU Health’s holdings in the Stony Point area. The health system’s existing Stony Point Campus already includes the VCU Medical Center to the north at 9000 Stony Point Parkway, and its Plastic and Reconstructive Surgery Center to the south at 9109 Stony Point Parkway.
A VCU Health spokesperson said in an email that 8720 Stony Point Parkway “provides an opportunity for an on-campus expansion that will help VCU Health System meet its mission for many years to come.”
“This campus is an important access point for the community where many of our providers already serve patients,” the spokesperson said.
It’s unclear how VCU Health will use the new building or when it plans to move in. Current tenants include Virginia Pediatric Ophthalmology Specialists, Retina Institute of Virginia and Richmond Surgical Arts, as well as non-medical tenants like real estate technology company Keeping Current Matters and personal injury law firm Geoff McDonald & Associates.
The sale was recorded with the city on Sept. 3, and included an adjacent surface parking lot. The assessed value of the building and its 11.4-acre parcel has been steadily declining in recent years, going from $15.7 million in 2022 to $13.2 million in 2025. According to city records, this is the second time a VCU-related entity has owned the property, as in 2004 VCU transferred it to Highwoods.
VCU Health has remained busy in both the city and the surrounding counties this year. It’s currently planning a new high-rise hospital on its MCV campus downtown, and is building a new cardiac center near The Diamond. In Chesterfield it’s building a new $90 million surgical center, and it recently opened a new clinic in Henrico near Reynolds Crossing.
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