Chesapeake Industrial Park Buys Port of Virginia Distribution Center for $24M
Chesapeake Industrial Park has acquired the Port of Virginia Distribution Center in Chesapeake, Virginia, for $24 million.
The industrial portfolio, spanning 334,881 square feet, consists of two buildings totaling approximately 11.28 acres with direct access to the Port of Virginia. The fully leased property is occupied by five tenants, including a Fortune 500 government contractor, defense contractors tied to the nearby Navy base, a national third-party logistics firm, and a food distribution company.
The sale was facilitated by Bo McKown and Eric Robison of Cushman & Wakefield, Thalhimer’s Capital Markets Group, with leasing assistance provided by Ellis Colthorpe from Thalhimer’s Hampton Roads team.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.