Porter Realty Company was selected to contribute the industrial market review for the August 2019 issue of Southeast Real Estate Business. Click the “press release” link below to view the entire article.
“At the mid-year mark, the greater Richmond area industrial market has continued to strengthen… Construction activity remains robust with a strong pipeline of industrial projects in the works. Becknell Industrial has begun work on the first phase of its new four-building complex in Henrico County’s East End, proximate to Richmond International Airport.”
Wine & Beer Supply, which offers cans, bottles, packaging, warehouse space and other wares for breweries and wineries, has signed a lease to move its headquarters into a new construction facility in the Northlake Commerce Center.
The 4-year-old company will occupy 54,000 square feet in a forthcoming 152,000-square-foot industrial building at 12015 N. Lakeridge Parkway. Kevin Cox of Porter Realty Co. represented Wine & Beer Supply in lease negotiations.
Click here for the fully story from Richmond BizSense.
From Bisnow: Over the last three decades, commercial real estate has seen tremendous changes — from digitization and automation to the birth of entirely new asset classes. But through all those transformations, there has been a constant demand for local expertise from respected brokers.
Now in its 30th year, CORFAC remains an unparalleled resource for that kind of expertise — an independent network of brokers and a reputable source of unbiased information at a time when the industry is doing more business than ever. And for its members, it serves as an indispensable community of trusted colleagues, advisers and friends. Click here for the full story.
Productiv, a national leader in kitting, contract packaging and fulfillment, has moved into a state-of-the-art production and fulfillment facility in Richmond, VA, doubling its capacity to serve a growing client roster with more sophisticated capabilities. The new building features 105,000 square feet in an optimal location in Richmond with close proximity to the Richmond Marine Terminal, the Port of Virginia, and Interstate 95 enabling two-day shipping to any destination east of the Mississippi River. Click here for the full release.
Porter Realty Company contributed the year end industrial market review to the December 2018 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. Becknell Industrial has announced plans for its next Richmond area project, located in eastern Henrico County proximate to the Richmond International Airport. Becknell plans to construct a four-building complex with a total of 805,190 square feet of high bay industrial space in the newly named Airport Logistics Center.
Click “press release” link below to view the entire article.
Porter Realty Company was selected to contribute the industrial market review for the August 2018 issue of Southeast Real Estate Business. Click “press release” link below to view the entire article.
“Local expansion has remained strong, a trend consistent with the Richmond market, and regional and national companies with an existing presence in the area have also announced expansions. The metro area has also seen the introduction of new manufacturers with large industrial footprints, further evidencing the benefits of the area’s location and infrastructure.”
From Richmond Times-Dispatch: A four-building industrial warehouse complex is being planned for South Laburnum Avenue in eastern Henrico County.
Becknell Industrial, the Indianapolis-based developer of warehouse distribution centers across the nation, is developing the four-building site totaling 805,190 square feet at 6101 S. Laburnum Ave. — on property across the street from the Mondelez International plant.
The 60.59-acre tract at Laburnum Avenue and Seven Hills Boulevard had been owned by Ukrop’s Super Markets Inc.
The five parcels sold for a total of $4.925 million, according to Clifford B. Porter, executive vice president at Porter Realty Co. Inc. who handled the marketing and sale of the Ukrop’s site. Click here to read the full story.
The 40,242 SF office/warehouse complex at 20 Westover Hills Boulevard, formerly home to Southside Builders Supply, has sold to Azul Properties LLC for $1,750,000. The Richmond City complex includes a total of five buildings on 8.75 acres, and is located just north of Route 60/Midlothian Turnpike. Porter Realty’s Byron Holmes handled the marketing of the property, and represented the seller in the contract negotiations.
From Richmond BizSense: Power Systems & Controls, a 53-year-old company that supplies power products to Fortune 500s and federal government agencies, is expanding its operations at 3206 Lanvale Ave. to an adjacent building it purchased in November.
The company bought the building at 3106 Lanvale Ave. for $1.66 million. The purchase price included $1.58 million for the 25,000-square-foot building, with the remainder covering equipment included in the sale by previous owner Woodfin, which relocated its headquarters in 2015. Click here to read the full story.
Reprinted from Southeast Real Estate Business: Major construction activity in the Richmond industrial sector is slated to continue with the recent announcement that Facebook will spend $1 billion to construct at 970,000-square-foot data center in eastern Henrico’s White Oak Technology Park, the first of a three phase project on more than 320 acres.
Eastern Henrico is home to the county’s largest industrial base, and activity around Richmond International Airport remains strong. Becknell Industrial recently completed construction of Building B in the Airport Distribution Center, with 114,009 square feet leased to Bunzl Distribution in a relocation and expansion. Becknell has also broken ground on Building D in the park with Cliff Porter of Porter Realty Co. Inc. as the leasing exclusive agent, who handled the prelease of the 202,500-square-foot, high-bay facility.
Select “View Press Release” to read the full article.
Publix Super Markets Inc. has closed on the purchase of 6.185 acres at 15930 Hull Street Road in Chesterfield County with plans for a new grocery store. The 50,000-square-foot Publix is planned for a mixed-use development called Cosby Village at the northeast corner of Otterdale Road and Hull Street Road.
Publix bought the land from The Goode Family Limited Partnership for $1.9 million. Bob Porter and Byron Holmes, both with Porter Realty Company, Inc., handled the negotiations on behalf of the seller.
The Florida-based chain, which opened its first area store in July and has since opened seven more locations, bought the former Martin’s Food Markets building at 7045 Forest Hill Ave. in the Shops at Stratford Hills in late August. The chain paid $12.491 million. Click the Press Release link for the story as reported by the Richmond Times-Dispatch.
Bunzl Distribution Midatlantic LLC has leased 114,009 square feet of space in the newly built Building B in Henrico County’s Airport Distribution Center. Bunzl supplies a range of products to food processors, supermarkets, non-food retailers, convenience stores and other users, including food packaging, disposable supplies and cleaning and safety products, and will relocate its Richmond area operation to this facility.
Developed and built by Becknell Industrial, Building B features a total of 153,504 square feet, with 32′ clear ceilings, LED lighting, ESFR sprinkler system and 7″ unreinforced concrete slab. Construction of Building B was completed in the third quarter of 2017, with 39,405 square feet of residual space available for lease. Clifford B. Porter, CCIM, SIOR of Porter Realty Company, Inc. represented Becknell in the lease to Bunzl and is the exclusive agent for the park.
Becknell has also begun construction on Building D in the same park, which will include 202,560 square feet of distribution space. The park is home to three other existing facilities, including Building C, which was completed in 2008 and purchased by Becknell along with the pad sites in 2014. The park’s occupants include WestRock, Batesville Casket, Forward Air Solutions, and Graybar among others. Building E was completed in 2016 and is fully leased to Premier Store Fixtures.
Becknell Industrial specializes in the development and management of industrial properties nationwide, with holdings in 32 states, and offices in Chicago, Illinois and Indianapolis, Indiana.
Nick’s International Foods has purchased a new facility at 2413 Westwood Avenue in Henrico County, after selling its longtime downtown location earlier this year, and plans to move into the 6,400-square-foot building on Westwood Avenue in late October. Wilson Flohr represented Nick’s in the purchase of the new building, and also handled the disposition of their downtown location. Click here for the full story.
