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Colliers Arranges $14M Sale of USPS-Leased Industrial Property in Chesapeake
Colliers has facilitated the sale of an industrial building within the Cavalier Industrial Park in Chesapeake, VA to an institutional investor for $13.5 million.
Michael Blunt, Clay Ellis and Chamie Burroughs of Colliers represented the seller, a joint venture led by B&D Holdings.
3512 Business Center Drive is an infill, port intermodal centric, single-tenant warehouse distribution building. The 70,000-square-foot property is 100% leased to United States Postal Service and serves a seasonal processing and distribution center for delivering mail nationally.
The property’s building coverage of 16.5% creates approximately five acres of secured, outdoor storage, and trailer parking. Given the property is situated on 9.72 acres of land, there is also the potential to expand the building.
3512 Business Center Drive was built in 1998 with 29’-37’ clear, LED lighting in the warehouse, a 130’ secured truck court with concrete apron and full circulation.
- ◦Sale/Acquisition
