The Silverman Group Picks Up Virginia Facility
An affiliate of Iron Mountain is the sole tenant.
Equus Capital Partners has sold Virginia Inland Port Logistics Center, a 339,450-square-foot, Class A distribution center in Front Royal, Va., for $38.2 million. The Silverman Group’s SL Industrial Partners acquired the recently completed asset. CBRE’s team of Executive Vice Presidents Jonathan Beard, Bo Cashman and Michael Hines negotiated on behalf of the seller.
An affiliate of Iron Mountain Inc. occupies the entire building. Last year, the company signed a 10-year lease extension.
Virginia Inland Port Logistics Center is on Winchester Road and includes 32-foot clear heights, ESFR sprinkler systems, 34 loading dock doors, two drive-in doors, a 180-foot truck court, 63 trailer parking spots and 103 vehicle parking spots.
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The building also includes levelers, bumpers and 21 knock-out panels, allowing to expand up to 55 dock door locations. Its energy efficient features include a LED lighting system, motion sensors, a storm water management system and a heat load reducing TPO roof membrane.
The distribution facility is along State Route 522, close to interstates 66 and 81 as well as to the Virginia Inland Port, allowing direct rail connections to The Port of Virginia.
In June, Lovett Industrial announced its plans for Enterprise Logistics Park, a 2.2 million-square-foot Class A business park in James City County, Va. Groundbreaking is scheduled for early 2024. The development will rise on 328 acres and is expected to be the largest speculative project in the I-64 corridor.
Earlier this year, SanMar Corp leased the first speculative building at East Coast Commerce Center, a $100 million project developed on 200 acres in Hanover County. The company will occupy a 1.1 million-square-foot warehouse within the industrial park.