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Matan Acquires Acreage for 2M-SF Industrial in New Kent County
Matan Companies acquired 185 acres of land in New Kent County, VA. The company plans to develop New Kent Logistics Center, consisting of approximately two million square feet of high-bay industrial space in four buildings.
The development will be located adjacent to AutoZone’s 800,000-square-foot East Coast distribution center and less than a mile from a planned Buc-ees. Matan will move forward with entitlement and approvals for the initial building, totaling over one million square feet.
“New Kent Logistics Center is ideally located between Richmond and Hampton Roads, two of the healthiest industrial submarkets in the country,” said Jamie Minkler, managing director at Matan. “The site represents one of a dwindling supply of large sites zoned by-right for industrial and distribution users. With speed-to-market being key to user’s selection criteria, our plan to get the one million square foot building shovel-ready will make the site extremely attractive to a wide variety of potential tenants.”
JLL’s Gareth Jones, Chris Avellana, and Charlie Polk have been awarded the lease assignment. Matan will manage the property in-house.
- ◦Development
