The 461,700 square-foot second phase of Panattoni’s Virginia I-95 Logistics facility was fully pre-leased to an e-commerce user with delivery and occupancy scheduled for early Q4 2019.
The 152,000 square-foot Northlake Commerce Center is fully pre-leased to two third-party logistics users and a food and beverage distributor. Delivery and occupancy are expected in September.
The 798,786 square-foot Interstate Logistics Center in Prince George County sold for $21.7 million to Ashley Capital.
Total industrial user demand (including users seeking to buy or build) is more than double this time last year at a current volume of 5.7 million square feet.
Costar recently featured Richmond in its top-ten markets for industrial growth citing Richmond’s need for new supply and its data center development pipeline, namely 3.2 million square feet between three buildings in the Airport submarket.
Q2 2019 Richmond Industrial Research & Forecast Report