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RICHMOND, VA. — HFF has arranged the sale of the newly constructed Pepsi Bottling Distribution Center in Richmond. ElmTree Funds purchased the 220,825-square-foot asset for $25.9 million. The center was delivered in November and is triple-net-leased to Bottling Group LLC, a wholly owned subsidiary of Pepsi Beverages Co. Situated along Interstate 95 near Interstates 64 and 295, the facility is located about 12 miles south of downtown Richmond. Steve Conley, Bruce Strasburg, Chris Norvell, Coler Yoakam and Patrick Nally of HFF represented the seller, Armada Hoffler Properties Inc., in the transaction.