{"id":1004690304,"date":"2023-11-14T07:29:13","date_gmt":"2023-11-14T15:29:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004690304"},"modified":"2024-04-04T04:55:36","modified_gmt":"2024-04-04T12:55:36","slug":"northpoint-jv-breaks-ground-on-111m-richmond-area-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/northpoint-jv-breaks-ground-on-111m-richmond-area-project\/","title":{"rendered":"NorthPoint JV Breaks Ground on $111M Project"},"content":{"rendered":"
\"Phenix<\/a>

One of Phenix Commerce Center’s two buildings will include a 6,000-square-foot workforce training center operated by the city of Hampton. Image courtesy of NorthPoint Development<\/em><\/p><\/div>\n

NorthPoint Development<\/strong> has officially broken ground on Phenix Commerce Center, an 841,300-square-foot industrial asset in Hampton, Va. The $111 million project is being developed in a partnership with Elegran Capital<\/strong>. Colliers<\/strong> will serve as exclusive leasing agent for the property.<\/p>\n

The developer held a groundbreaking ceremony on Nov. 9, with speakers including Mayor Donnie Tuck, Assistant City Manager Brian DeProfio and NorthPoint Vice President of Development Marc Gloyeske.<\/p>\n

Phenix Commerce Center will comprise two buildings, which are set to come online in the third and fourth quarter of 2024. According to City of Hampton public records, the partnership acquired the land for $5.2 million. The development is expected to bring 450 jobs to the area, including construction and operational roles.<\/p>\n

\n

READ ALSO<\/strong>: Top 5 Emerging Industrial Markets<\/a><\/p>\n

\n

Plans call for a cross-dock building and a rear-load facility. Building 1 will encompass 534,780 square feet and is set to feature 40-foot clear heights, four drive-in doors, 56 dock doors, LED lights with motion sensors, 346 vehicle parking spots and around 146 trailer parking spots. Building 2 will total 299,783 square feet and feature 36-foot clear heights, two drive-in doors, 31 dock doors, 364 vehicle parking spots and 88 trailer parking spots.<\/p>\n

Phenix Commerce Center will provide access to interstates 664 and 64, and will rise roughly 4 miles from Newport News Marine Terminal, 13 miles from Newport News\/Williamsburg International Airport, 18 miles from Port of Virginia and 22 miles of Norfolk, Va.<\/p>\n

Colliers Executive Vice Presidents Lang Williams and Ashton Williamson, together with Associate Patrick Molloy will market the industrial development for lease.<\/p>\n

Recent projects in the area<\/h2>\n

NorthPoint Development’s project is among several others to be recently added to the Richmond-Hampton Roads construction pipeline. In June, Lovett Industrial announced its plans for Enterprise Logistics Park<\/a>, a 2.2 million-square-foot campus in James City County, Va. The 328-acre speculative development will be located on the primary transit corridor between The Port of Virginia and Interstate 95.<\/p>\n

In September 2022, Industrial Realty Group LLC launched an agreement to develop a 227,000-square-foot distribution center<\/a> in Suffolk, Va., close to The Port of Virginia. The property marks the developer’s third build-to-suit project in the area.<\/p>\n","protected":false},"excerpt":{"rendered":"

Phenix Commerce Center is scheduled for completion in the second half of 2024.<\/p>\n","protected":false},"author":2991,"featured_media":1004690335,"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":[35498,52239,38189],"class_list":["post-1004690304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-midatlantic","category-latest","category-richmond-hampton-roads","tag-colliers","tag-elegran-capital","tag-northpoint-development"],"acf":[],"yoast_head":"\nNorthPoint JV Breaks Ground on $111M Project - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"NorthPoint Development has started construction on Phenix Commerce Center, a 841,300-square-foot industrial development in Hampton, Va.\" \/>\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\/northpoint-jv-breaks-ground-on-111m-richmond-area-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NorthPoint JV Breaks Ground on $111M Project\" \/>\n<meta property=\"og:description\" content=\"NorthPoint Development has started construction on Phenix Commerce Center, a 841,300-square-foot industrial development in Hampton, Va.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/northpoint-jv-breaks-ground-on-111m-richmond-area-project\/\" \/>\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=\"2023-11-14T15:29:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-04T12:55:36+00:00\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/phenix-commerce-center-groundbr-e1699967780916.png\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/northpoint-jv-breaks-ground-on-111m-richmond-area-project\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/northpoint-jv-breaks-ground-on-111m-richmond-area-project\/\",\"name\":\"NorthPoint JV Breaks Ground on $111M Project - 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