{"id":1004516338,"date":"2021-03-16T03:17:02","date_gmt":"2021-03-16T11:17:02","guid":{"rendered":"http:\/\/internal.cpexecutive.com\/?p=1004516338"},"modified":"2021-05-15T10:16:15","modified_gmt":"2021-05-15T18:16:15","slug":"red-rock-developments-first-foray-in-greater-richmond","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/red-rock-developments-first-foray-in-greater-richmond\/","title":{"rendered":"Red Rock Developments\u2019 First Foray in Greater Richmond"},"content":{"rendered":"<div id=\"attachment_1004516350\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Spec-industrial-project-in-MeadowvilleTechnology-Park-1.jpg\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004516350\" loading=\"lazy\" class=\"wp-image-1004516350 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Spec-industrial-project-in-MeadowvilleTechnology-Park.jpg\" alt=\"Red Rock Developments and Westport Capital Partners Begin Industrial Project in Metro Richmond\" width=\"300\" height=\"225\"><\/a><p id=\"caption-attachment-1004516350\" class=\"wp-caption-text\">Spec industrial project in MeadowvilleTechnology Park. <em>Rendering courtesy of Cushman &amp; Wakefield | Thalhimer<\/em><\/p><\/div>\n<p>Cushman &amp; Wakefield | Thalhimer, of Glen Allen, Va., will handle leasing for the property, which marks Red Rock\u2019s first project in the Greater Richmond area.<\/p>\n<hr>\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/ramping-up-warehouse-safety\/\">Ramping Up Warehouse Safety<\/a><\/p>\n<hr>\n<p>The 353,044-square-foot Class A building is targeted at manufacturing and logistics users and will be the first speculative development in the 1,300-acre-plus Meadowville Technology Park, which is owned by the Chesterfield Economic Development Authority.<\/p>\n<p>The building will feature 36-foot clear height, dock and drive-in loading, above-market-standard truck and auto parking, and 185-foot truck courts.<\/p>\n<p>Site development on the 54-acre parcel will begin this spring, and completion of the building is slated for the fourth quarter.<\/p>\n<p>Mark Douglas and Graham Stoneburner of Cushman &amp; Wakefield | Thalhimer will represent Red Rock in the building\u2019s leasing.<\/p>\n<p>Meadowville Technology Park is along the east side of I-295, near its intersection with Route 10. Other tenants in the park include Amazon, Niagara Bottling, Medline, Science Applications International Corp., Altria and AdvanSix.<\/p>\n<h2>Demand outpacing supply<\/h2>\n<p>Red Rock has long considered Meadowville Technology Park a prime location for its entrance into the Richmond, Virginia market, John Barker, Red Rock\u2019s president &amp; chief development officer, said in a prepared statement. He added that the Chesterfield County industrial market \u201cis increasingly tight on supply.\u201d<\/p>\n<p>Despite 1.1 million square feet of deliveries in the second half of 2020, the overall vacancy in metro Richmond\u2019s industrial space market remained at a 10-year low of 3.2 percent, according to a fourth-quarter report from JLL.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company has teamed up with Westport Capital Partners to develop a spec industrial project in Chesterfield County. <\/p>\n","protected":false},"author":882,"featured_media":1004528947,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,11,21742,36153],"tags":[32796,40701,36227],"class_list":["post-1004516338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-midatlantic","category-latest","category-richmond-hampton-roads","tag-jll","tag-red-rock-developments","tag-westport-capital-partners-llc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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