The Latest Market News

RVA Industrial Market Review: Buyers, Developers Attracted to Market As Local Users Expand

September 2018

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…

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Becknell Industrial Plans New Airport Area Warehouse Complex

July 2018

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…

Former Southside Builders Supply Facility Sold

June 2018

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…

Power Systems Expands Diamond Area Footprint

March 2018

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…

2017 Year End Review: Development Activity Heats Up In Richmond

January 2018

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…

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Publix Purchases Cosby Village Parcel in Chesterfield Co

November 2017

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…

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Bunzl Relocates RVA Operation to Henrico’s Airport Distribution Center

October 2017

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…

Near West End Facility Sold to Downtown Greek Deli

August 2017

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…

RVA Market Review: A New Era of Industrial Development

August 2017

Porter Realty Company was selected to contribute the industrial market review for the August 2017 issue of Southeast Real Estate Business.

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Chesterfield Land Site Sold to RISE Baseball

August 2017

RISE Baseball has announced plans to build a $2.3 million, 30,000 square foot indoor center on land purchased in Chesterfield County at East Boundary Court and Old Hundred Road.  Byron Holmes of Porter Realty Company brokered the sale of the land. The new facility will featured a full-size infield, 14 batting cages, clay pitching mounds,…

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