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Washington DC & Mid-Atlantic  + DC Metro  + Industrial  |  July 29, 2024
Paul Bubny
By: Paul Bubny

Industrial Realty Group Expands Hampton Roads Presence

Industrial Realty Group, LLC (IRG), headquartered in Los Angeles, acquired a 298,126-square-foot warehouse facility at 3321 Princess Anne Rd. in Norfolk, VA. The sale price was not disclosed. Stephanie Sanker, SVP and partner, S.L. Nusbaum Realty Co., facilitated the transaction.

“We are excited to continue to grow our portfolio in the Norfolk market,” said IRG president Stuart Lichter. “The property is extremely well-positioned within the Port of Virginia area, which supports our tenants’ needs.”

LION Power and Beckett Corporation are currently occupying the premises, with 193,792 square feet still available. S.L. Nusbaum Realty’ Co.’s Stephanie Sanker will provide leasing services for the remaining space.

IRG also owns additional projects in the Hampton Roads region including build-to-suit developments in Suffolk and Portsmouth for Unis, which were recently completed. Also in Suffolk, another IRG BTS project for RoadOne is nearing completion.

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Industrial Realty Group

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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