Silverman Group has acquired Rolls-Royce’s former manufacturing facility in Prince George, Va. The company bought the Crosspointe Logistics Center site through its affiliate SL Industrial Partners for an undisclosed price.
Rolls-Royce was represented in the sale by Colliers’ Matt Anderson, Joe Marchetti and Rebecca Barricklow, as well as Cushman and Wakefield’s Fritz Kauffman and Megan Cuvelier.
Crosspointe Logistics Center was previously a state-of-the-art aircraft manufacturing campus for Rolls-Royce. The property currently includes a 291,689-square-foot facility which has dual circuit electrical service with a total capacity of 50 MVA and a 350 kW backup generator.
The industrial property is located at 8800 Wells Station Road, between the Port of Virginia’s Norfolk and Richmond terminals. Crosspointe Logistics Center is also near the crossroads of I-295, I-95 and Route 460.
Blake Silverman, president of Silverman Group, said in prepared remarks that the company was entering the Greater Richmond area with the acquisition of Crosspointe Logistics Center, which aligns with its strategy to grow its industrial portfolio and development platform.
Open acreage for future facilities
Crosspointe Logistics Center’s site includes 880 acres of developable land that can be fully built out into several industrial and manufacturing buildings totaling more than 3 million square feet. Silverman Group has also tapped Colliers’ Matt Anderson, Frank Hargrove and Harrison McVey to lease any future buildings in the industrial complex, as well as the existing manufacturing facility.
Beyond Crosspointe Logistics Center, Silverman Group owns a portfolio of more than 25 million square feet of office, industrial, retail and aviation properties, along with 4,000 multifamily units across the U.S. The firm also has more than 15 million square feet of commercial space and 2,000 multifamily units currently in development in nine states, including logistics projects in Windsor Locks, Conn., Greensboro, N.C., and Hardeeville, S.C.