Becknell Industrial has completed the purchase of an 116,000 square-foot multi-tenant distribution facility and 39.9 acres of land in the Airport Distribution Center located just outside Richmond, Virginia.
Built in 2008, 2500 Distribution Drive features 32′ clear height, 52′ x 57′ column spacing, 30 truck docks, and three drive-in doors. Located in southeast submarket of Richmond, the facility provides convenient access to the Richmond International Airport and to Interstates 295 and 95. Situated on 6.8 acres, the existing building is fully leased to MeadWestvaco, Batesville Casket and Forward Air Solutions. The remaining 39.9 acres include three pad ready sites that can support an additional 564,500 square feet of planned new development.
“This acquisition is a great addition to our portfolio as it meets our criteria of modern, well-located buildings in strong submarkets,” said Pete Anderson, Becknell’s Executive Vice President Investments. “In addition, we were pleased with the opportunity to purchase pad ready industrial land in a market that lacks Class A inventory.”
Clifford B. Porter, SIOR, CCIM, of Porter Realty Company represented the seller, Birmingham-based Graham & Company, who purchased the site in 2006. Becknell Industrial has retained Porter Realty as its exclusive agent for future development.