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Washington DC  + DC Metro  + Industrial  | 
MDH Partners has acquired the Chesapeake Industrial Park in Chesapeake, VA, for $13.8 million.

MDH Partners Makes Second Virginia Buy with $14M Chesapeake Industrial Property

Atlanta, GA-based MDH Partners has acquired the Chesapeake Industrial Park, a two-building, 182,000-square-foot industrial portfolio on Cook Boulevard in Chesapeake, VA, for $13.8 million. The project is 100% leased.

Chamie Burroughs and Ricky Anderson with Colliers represented the seller, while MDH Partners’ Joe DeHaven and Makenna Barbara served as the acquisition leads.

The transaction marks the company’s second VA purchase, behind the acquisition of AeroFarms Danville in Danville in May.

“In an uncertain capital markets environment, we are being very selective about our acquisition criteria, but liked this opportunity given the low basis and below-market rents,” said DeHaven. “Additionally, the Norfolk industrial market has less than a 2% vacancy rate with limited new supply in the pipeline, and we are confident we can increase yields in the near-term.”

Chesapeake Industrial Park portfolio Building One and Building Two. Each is approximately 90,000 square feet and features clear heights of 30 feet and 23 dock-high doors.

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Inside The Story

MDH Partners' DeHaven

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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