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Trinity Capital, Mortenson Properties Acquire 15-Acre Richmond Industrial Development Site
Trinity Capital Advisors, in a joint venture with Mortenson Properties, Inc., has acquired a 15-acre industrial development site in Northlake Business Park in Hanover County, marking their entry into the Richmond market.
The planned development will feature two rear-load industrial buildings totaling 231,120 square feet. Designed to accommodate a broad range of prospective users, the project will provide modern, highly functional space in one of Richmond’s most established and supply-constrained submarkets. Construction is expected to begin in summer 2027, with delivery anticipated in the third quarter of 2028.
Mortenson will serve as the project’s general contractor. Townes Site Engineering is providing civil engineering services, and Range Commercial has been retained to lead leasing efforts. The Northlake area encompasses approximately 6.8 million square feet, is currently 99% leased and is home to major tenants including Amazon, Ferguson, Owens & Minor, Pitney Bowes, Chadwell Supply and Anixter. The project expands Trinity Capital’s growing industrial platform across the Southeast and Mid-Atlantic.
