POR Group VA LLC has acquired the two-building industrial complex at 15801 Happy Hill Road in Chesterfield County from Pre Con Inc. for $2,225,000. The property includes a total of 56,869 square feet on 4.61 acres with multiple dock and drive-in access points, a fenced loading area, and guardhouse on site. Immediate access to Interstate 95 is available at the Woods Edge Road exit.
Dick Porter and Cliff Porter handled the marketing and sale negotiations on the seller’s behalf.
West End Printing has leased 55,957 square feet of office/warehouse space at 4300 Carolina Avenue in Eastern Henrico County. Recently acquired from Richmond Raceway by Lingerfelt Commonwealth Partners, the Carolina Avenue building is currently undergoing extensive renovations.
Bob Porter handled the lease negotiations on behalf of West End Printing.
TP Leadbetter LLC has acquired the 22,871-square-foot office/warehouse at 11046 Leadbetter Road in Hanover County from South Atlantic Properties Inc. for $2,000,000. The property was fully leased at the time of sale.
Kevin Cox handled the marketing and sale negotiations on the seller’s behalf.
CoStar has announced the winners of its annual Power Broker Awards, and Richard Porter of Porter Realty Company Inc. has been named as one of the top industrial leasing brokers in the Richmond market. The Power Broker Awards recognize and celebrate commercial real estate’s top brokers and firms in the United States and Canada. Click here to read more about the awards and CoStar’s methodology.
Richmond-based Dominion Packaging has leased 144,606 square feet of warehouse space in the second phase of the newly constructed Airport Logistics Center, proximate to Richmond International Airport in Eastern Henrico County. Dominion Packaging manufactures premier folding cartons with a focus on innovation and value-added services, working with a variety of industry clients including Mondelez, General Mills, and RJ Reynolds. The Airport Logistics Center is Becknell Industrial’s latest Richmond area development with a total of four buildings planned for the site.
Cliff Porter represented Becknell Industrial, and Bob Porter represented Dominion Packaging Inc.
Porter Realty Company was asked to contribute to the November 2020 issue of Southeast Real Estate Business. Click the “press release” link below to view the entire article.
“Richmond’s manufacturing industrial scene has continued to show favorable fundamentals even in the face of a global pandemic. Several companies have remained active on both the leasing and development sides since the onset of the coronavirus pandemic in mid-March.”
Mounting solutions distributor Mount-It! will invest $7.45 million to establish its first East Coast warehouse and distribution facility in Prince George County, creating 85 jobs. Headquartered in San Diego, the company recently purchased the 50,880-square-foot facility at 5851 Quality Way in the Southpoint Business Park for $2,350,000. Virginia competed with Delaware, Kentucky, North Carolina, and West Virginia for the project.
Porter Realty Company handled the marketing and negotiations on the seller’s behalf. Click here to read the full story from Virginia Business.
Porter Realty Company was selected to contribute the industrial market review for the August 2020 issue of Southeast Real Estate Business. Click the “press release” link below to view the entire article.
“At the mid-year mark, industrial occupancy in the greater Richmond area remains strong, closing with an overall occupancy rate of 92 percent in the categories being tracked… Amazon continues to expand its metro area footprint with the announcement that the e-commerce giant has leased a new facility in Chesterfield County, and Wegmans Food Markets is set to build a 1.1 million-square-foot, $175 million distribution center and regional headquarters in Hanover County.”
The 52,000-square-foot industrial building at 11250 Hopson Road in Hanover County has sold for $2,756,000. The building sits on more than 3.6 acres of land. Green Air Inc. purchased the property with plans to relocate its operation into 28,000 square feet of the building. Porter Realty’s Kevin Cox handled the marketing and sale negotiations on the seller’s behalf. Click here to read the full story at Virginia Business.
Located at 4650 Oakleys Lane, the 229,829 square-foot facility sits on more than 23 acres and features dock and drive-in loading. The property was sold by 4650 Oakleys Lane LLC to Henrico County-based mailing and shipping service company Direct Mail Solutions, under limited liability company Seventy1 for $9.39 million.
Click here to read the full story at Virginia Business.
A Chesterfield County office building has transferred from TJP-TD LLC to Sisters II LLC for $2.4 million. Porter Realty’s Byron Holmes handled the marketing and sale negotiations on behalf of the seller.
Located at 530, 540 and 550 Southlake Boulevard, the 43,544-square-foot office building was fully leased at the time of sale to multiple companies including Ingersoll Rand and VibrAlign. Click here to read the story from Virginia Business.
C&F Finance Company will build a new headquarters facility in Eastern Henrico County, the company announced this week. It will be located on nearly 10 acres of land at 5491 International Trade Drive, a site east of Oakleys Lane and adjacent to I-64 that the company purchased from DMG Properties, LLLP for $400,000. C&F Finance provides indirect automobile, marine and RV loans nationwide.
Porter Realty Company handled the marketing and negotiations on the seller’s behalf. Click here to read the full story from the Henrico Citizen.
Porter Realty Company contributed the year end industrial market review to the December 2019 issue of Southeast Real Estate Business: Richmond’s industrial sector is poised for expansion as construction pipeline activity advances in all quadrants of the metro area. At year’s end, new construction and redevelopment continue to dominate Richmond’s industrial sector. Richmond also landed in the number 7 spot of Costar Group’s 2019 list of top cities for industrial real estate growth, released early in the third quarter. Becknell Industrial is well underway with construction at its second Richmond-area development with the first phase of the Airport Logistics Center leased and scheduled for delivery in early 2020.
Click “press release” link below to view the entire article.
Porter Realty Company Inc. is pleased to announce that Robert E. Porter III has joined its brokerage team. Robert brings nearly a decade of experience in the banking and financial services industries, having worked with Davenport & Company as an associate vice president in the public finance department, and most recently as assistant vice president with Atlantic Union Bank in its corporate treasury department. Robert holds a Bachelor of Arts in Business Administration from Rhodes College with a concentration in finance, and also completed the ABA Stonier Graduate School of Banking and Wharton Leadership Program in Philadelphia. Click here for the news at the Richmond Times-Dispatch.
