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Rockpoint Acquires 1M-SF, Five-Building Industrial Campus in Virginia
Rockpoint, a Boston-based real estate private equity firm, and Rockpoint Industrial, an operating partner exclusive to Rockpoint, announced the acquisition of Richmond Trade Center, a 1.03-million-square-foot, five-building industrial campus in Chester, Virginia.
Rockhill, Rockpoint’s property services affiliate, will manage and operate the property. Financial terms of the transaction were not disclosed.
Developed in 2015, Richmond Trade Center is situated on approximately 119 acres and comprises four cross-dock warehouse buildings and one light industrial building. The property features modern specifications, exceptional circulation and flexible building layouts that can accommodate a broad range of industrial users.
“Richmond Trade Center gives us a portfolio of functional, high-quality industrial buildings in an attractive park setting to serve Richmond’s growing and diverse tenant base,” said Ben Harris, Head of Rockpoint Industrial. “Strategically located on I-95 between Raleigh-Durham and Northern Virginia, Richmond continues to be one of the Southeast’s strongest industrial markets, benefiting from accelerating investment in advanced manufacturing, data centers, fintech, health-tech, and related sectors.”
