Cushman & Wakefield | Thalhimer brokered the sale of 4 Mile Industrial Park, Spotsylvania County, Va.’s largest industrial park. The worldwide actual property agency labored on behalf of the location’s proprietor, Longwood Holdings LLC, within the $38 million portfolio commerce to an entity calling itself Longwood Proprietor LLC.
The acquisition consists of 4 buildings that complete 221,000 sq. ft of sunshine industrial and warehouse house in Fredericksburg, Va., a submarket of Washington, D.C. The properties on 35.7 acres had been in-built 1999 at 230 Industrial Drive, 11001 Houser Drive, 10935 Houser Drive and 11200 Houser Drive.
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“The property is centrally situated and ideally suited for warehouse distribution simply off Route 1 and I-95 exit 126. With drive-in doorways on the entrance and full tractor-trailer loading docks within the rear, the property is in excessive demand and one hundred pc leased, with each nationwide and native corporations.” Senior Vice President Virgil Nelson, who brokered the sale for Longwood Holdings, advised Business Property Govt.
Fredericksburg is midway between Richmond, Va., and Washington, D.C., and with the park situated on the intersection of two main highways, it’s central to the market. Tenants embrace Capital Electrical, Lennox, Blossman Gasoline, Flowers Bakery and Midsouth Constructing Provide.
Industrial portfolios promoting in Virginia
Cushman & Wakefield | Thalhimer has seen quite a lot of industrial portfolio gross sales lately. In Chesapeake, Va., Heritage Capital Group lately bought a five-property portfolio for $45 million. With 37 corporations working out of the park, it was 84 % leased.
Moreover, close by in Manassas, Va., Penzance bought a 212,086-square-foot industrial portfolio throughout two parks. Beforehand owned by Davin Holdings and The David Cos., the portfolio went for $55 million. The acquisition is getting used to help the rising demand for knowledge heart actual property inside Prince William County.
