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JV Secures Recapitalization for 110-Acre Richmond Industrial Park

A joint venture between real estate investment company DSC Partners LLC and Hourigan, a fully integrated construction and development firm has secured the recapitalization of Deepwater Industrial Park, a speculative distribution center in a designated Opportunity Zone in Central Richmond, VA.

Deepwater Industrial Park Is a 110-acre industrial park with plans for 1.4 million square feet of industrial leasing opportunities. Plans for Phase One, a 560,000-square-foot building, include a cross-dock warehouse, 42 dock-high loading doors and two drive-in doors. Groundbreaking and preleasing of Phase One has commenced with an anticipated completion target of Q2 of 2022.  Hourigan will develop and construct the entire park, including additional buildings, over the next three years.

“As Richmond continues to grow as the center of logistics and manufacturing in the Mid-Atlantic region, Deepwater Industrial Park is ideally located with its immediate proximity to ship, rail, and truck transportation modes,” said Mark Hourigan, CEO at Hourigan. “We are excited about the economic impact the park will have for the Commonwealth, including job growth opportunities in the area.”

Rob Dirom and Joe Marchetti Jr. of Colliers International have been tapped as the leasing team for the project.


Inside The Story

HouriganDSC Partners

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.