CenterPoint Properties Acquires 130,860 SF Facility in Chesapeake, Virginia
Posted By Staff Writers On April 7, 2016 @ 2:01 pm
OAK BROOK, IL – CenterPoint Properties is proud to announce the acquisition of a 130,860 square foot facility on 34 acres at 3516 S. Military Highway in Chesapeake, Virginia. Ashton Williamson, Worth Remick and Lang Williams of CBRE represented CenterPoint in the transaction.
The fully-leased Class-A transload facility is located in close proximity to the Port of Virginia, CSX and NS intermodals and the I-64 Beltway. This strategic location offers tenants accessibility to the East Coast population and expedited e-commerce freight.
“With its proximity to major transportation infrastructure, the facility meets all our criteria on acquiring logistically-advantaged industrial real estate,” said PJ Charlton, Senior Vice President of Investments at CenterPoint. “We are excited to add another state-of-the art facility to CenterPoint’s growing East Coast portfolio.”
Facility features include 183 exterior dock doors, 2 drive-in doors, 750 trailer positions and 210 car parking spaces. The location of the facility offers tenants reduced transportation and drayage costs and access to a market of more than 50 Million people.
“We look forward to continuing to acquire highly function, in-fill transload facilities like this one in top markets across the country,” added Charlton.
This acquisition brings CenterPoint’s East Coast portfolio to 9.5 Million square feet across 65 buildings.
About CenterPoint Properties
CenterPoint Properties is focused on the development, acquisition and management of industrial property and transportation infrastructure that enhances business and government supply chain efficiency. The company invests in major coastal and inland port logistics markets anchoring North America’s principal freight lanes. CenterPoint’s portfolio includes 53.7 Million square feet and 3,171 acres under development in the company’s integrated intermodal industrial parks. For more information on CenterPoint Properties, visit www.centerpoint.com or follow @centerpointprop on Twitter.