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Richmond Logistics Park Trades for $79M

JLL has arranged the $78.5 million sale of I-95 Logistics Park, a two-building logistics park totaling 923,400 square feet in Richmond.

Situated on approximately 60 acres at 4747 and 4949 Commerce Dr., the fully-leased park is across the interstate from the Richmond Marine Terminal, which offers  container-on-barge service from Hampton Roads to Richmond, providing a maritime alternative to Interstate 64 and bringing cargo to Interstate 95 by transporting goods on the James River.

John Huguenard, Bruce Strasburg and Patrick Nally of JLL represented the seller, Panattoni Development Co., in the transaction. The buyer was Virginia-based Cambridge Property Group.

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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.

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