{"id":1004106098,"date":"2014-10-23T12:46:16","date_gmt":"2014-10-23T20:46:16","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=301255"},"modified":"2020-05-21T22:31:00","modified_gmt":"2020-05-22T06:31:00","slug":"exeter-property-group-pays-31-2m-for-2-industrial-properties","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/exeter-property-group-pays-31-2m-for-2-industrial-properties\/","title":{"rendered":"Exeter Property Group Pays $31.2M for 2 Industrial Properties"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/Enterchange-at-Northlake-A.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-301261\" title=\"Enterchange at Northlake A\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/Enterchange-at-Northlake-A.jpg\" alt=\"\" width=\"300\" height=\"138\" \/><\/a>Exeter Property Group continues to expand its portfolio of industrial properties. In a transaction that closed Oct. 3, the Plymouth Meeting, Pa.-based company bought two Class A distribution buildings in the Richmond area from DRA Advisors of New York City. <a href=\"https:\/\/www.richmondbizsense.com\/2014\/10\/20\/real-estate-firm-scoops-up-two-warehouses\/\" rel=\"nofollow\" ><em>Richmond BizSense<\/em><\/a> reports that the two buildings sold for a total of $31.2 million.<\/p>\n<p style=\"text-align: justify;\">Exeter\u2019s new assets comprise 502,395 square feet and were 92.4 percent leased to five tenants at the time of the sale. Gary Gabriel of Cushman &amp; Wakefield Inc.\u2019s New Jersey office, and Eric Robison and Evan Magrill, both of Cushman &amp; Wakefield | Thalhimer\u2019s Richmond office, represented the seller in the transaction.<\/p>\n<p><span style=\"text-align: justify;\">The larger of the two properties, Enterchange at Walthall D, was constructed in 2003 at Ruffin Mill Road and I-95 in Colonial Heights. The 287,318-square-foot facility traded for $18.4 million.<\/span><\/p>\n<p>Enterchange at Northlake A was completed in 2005. Located at Lakeridge Parkway and I-95 in Hanover County, it offers 215,077 square feet of industrial space and was 82% leased at closing. The property changed hands for $12.8 million.<\/p>\n<p>Exeter Property Group has been on a buying spree this year, In March, the company paid <a href=\"https:\/\/www.commercialsearch.com\/news\/cities\/memphis\/exeter-affiliates-buy-43m-of-industrial-space-in-memphis\/1004094354.html\" ><em>$43 million<\/em><\/a> for a three-property portfolio in Memphis. And later, in May, Exeter purchased a <a href=\"https:\/\/www.commercialsearch.com\/news\/cities\/washington-dc\/exeter-property-group-buys-large-upper-marlboro-industrialflex-portfolio-for-37m\/1004097552.html\" ><em>576,652-square-foot industrial\/flex portfolio in Prince George\u2019s County<\/em><\/a>, Md., for $37 million.<\/p>\n<p><em style=\"text-align: justify;\">Photo credit: <\/em><a style=\"text-align: justify;\" href=\"https:\/\/www.thalhimer.com\" ><em>Cushman &amp; Wakefield | Thalhimer<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pennsylvania-based Exeter Property Group continues to expand its portfolio of industrial properties in the United States. In a transaction which closed on October 3, the company purchased two Class-A distribution buildings in the Richmond area.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36153],"tags":[],"class_list":["post-1004106098","post","type-post","status-publish","format-standard","hentry","category-richmond-hampton-roads"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Exeter Property Group Pays $31.2M for 2 Industrial Properties - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/exeter-property-group-pays-31-2m-for-2-industrial-properties\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Exeter Property Group Pays $31.2M for 2 Industrial Properties\" \/>\n<meta property=\"og:description\" content=\"Pennsylvania-based Exeter Property Group continues to expand its portfolio of industrial properties in the United States. In a transaction which closed on October 3, the company purchased two Class-A distribution buildings in the Richmond area.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/exeter-property-group-pays-31-2m-for-2-industrial-properties\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-10-23T20:46:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-22T06:31:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/Enterchange-at-Northlake-A.jpg\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/exeter-property-group-pays-31-2m-for-2-industrial-properties\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/exeter-property-group-pays-31-2m-for-2-industrial-properties\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"Exeter Property Group Pays $31.2M for 2 Industrial Properties\",\"datePublished\":\"2014-10-23T20:46:16+00:00\",\"dateModified\":\"2020-05-22T06:31:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/exeter-property-group-pays-31-2m-for-2-industrial-properties\\\/\"},\"wordCount\":228,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/exeter-property-group-pays-31-2m-for-2-industrial-properties\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/10\\\/Enterchange-at-Northlake-A.jpg\",\"articleSection\":[\"Richmond\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/exeter-property-group-pays-31-2m-for-2-industrial-properties\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/exeter-property-group-pays-31-2m-for-2-industrial-properties\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/exeter-property-group-pays-31-2m-for-2-industrial-properties\\\/\",\"name\":\"Exeter Property Group Pays $31.2M for 2 Industrial Properties - 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