353,044 sf Facility to be First Speculative Development in Meadowville Technology Park
Red Rock Developments & Westport Capital Partners LLC have announced the commencement of construction of an industrial facility on Digital Drive in Chesterfield County, Virginia. This will be Red Rock Developments first project in the Greater Richmond Region.
The 353,044 square foot building will be marketed to manufacturing and logistics users and will be the first speculative development within Meadowville Technology Park, which is owned by the Chesterfield Economic Development Authority (EDA).
The new industrial center is situated on approximately 54 acres of land along newly extended Digital Drive fronting Interstate 295 and Route 10 within Meadowville Technology Park.
Nearby facilities are operated by distinguished users including Amazon, Niagara Bottling, Medline, Altria and AdvanSix. The property will feature state-of-the-art specifications, including 36’ clear height, -dock and drive in loading, full site circulation, above market standard truck and auto parking and 185’ truck courts.
“Red Rock has long considered Meadowville Technology Park a prime location for our entrance into the Richmond, Virginia market. We look forward to working with Chesterfield to aggressively market this building in a market that is increasingly tight on supply”, said John Barker, President and Chief Development Officer with Red Rock Developments.
James Holland, BOS Chair
Jim Holland, Board of Supervisors (Chair) said, “We are excited to work with Red Rock to develop product in Chesterfield County. Red Rock has close relationships with many of the exceptional manufactures in our target sectors. We’re looking forward to Red Rock developing a Class-A industrial facility in Meadowville attracting additional quality employers into the county.”
Site development on the project will begin this Spring with completion of the building slated for the fourth quarter 2021. Mark Douglas, CCIM, SIOR and Graham Stoneburner of Cushman & Wakefield | Thalhimer will be exclusively representing Red Rock in the speculative development and leasing for the Class A building.
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About Chesterfield Economic Development: Chesterfield Economic Development works on a free and confidential basis with domestic and foreign companies planning to establish new facilities, relocate existing facilities, or expand current facilities. The department also assists existing businesses and industries already located in Chesterfield with any business-related issues. CED staff members will assist with site selection requirements, information and research needs, public relations and relocation services, small business issues, or streamlining regulatory processes. Additional information can be found at www.chesterfieldbusiness.com.
About Red Rock Developments is a privately held real estate development and investment company headquartered in Columbia, SC, with a regional office in Charlotte, NC. Our core competency is in the industrial / distribution sector within select, strategic markets located predominantly east of the Mississippi River. Red Rock has developed over 20 million square feet of Class A industrial space and continues to grow its platform. Red Rock’s areas of expertise include build-to-suit / lease, speculative development and industrial park / land development. The company currently has industrial projects located in Central Florida; Atlanta, Georgia; Columbia, SC; Indianapolis, Indiana; Richmond, Virginia; and Columbus, Ohio. Additional information can be found at www.redrockdevelopments.com.
About Westport Capital Partners LLC: Westport Capital Partners LLC is a real estate investment firm focusing on adding value to real estate and “hands-on” solutions to complex situations. Westport provides domestic and international real estate related investment opportunities to institutional and private clients. Through its various funds, the firm invests in a wide variety of distressed, opportunistic and core plus real estate assets. The firm has offices in Los Angeles, California and Stamford, Connecticut. For more information regarding Westport Capital Partners LLC, please visit www.westportcp.com.
About Cushman & Wakefield | Thalhimer: Thalhimer was founded in 1913 and currently has offices in Richmond, Newport News, Virginia Beach, Fredericksburg, Roanoke, Charlottesville, and Lynchburg, VA; and Charleston, Columbia, and Greenville, SC. The company has over 100 broker professionals and employs over 425 associates. Thalhimer represents, on behalf of its clients, a property portfolio of over 57 million leasable square feet, and management of over 32 million square feet of commercial property, and over 9,600 multifamily units. In 2020, Thalhimer completed over 1,700 transactions with a transactional volume more than $1.35 billion. Thalhimer is the region’s leading provider of comprehensive commercial real estate services. The firm offers comprehensive commercial real estate services including corporate services, investment sales, tenant representation, project management, asset management, and the sale and leasing of office, industrial and retail properties. To learn more, visit www.thalhimer.com or follow @Thalhimer on Twitter. Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance
