Arabic Chinese (Simplified) Dutch English French German Italian Portuguese Russian Spanish

News | 1 min read

REIT lays groundwork for more East End warehouse space

August 12, 2015

A Pennsylvania REIT is thirsty for more industrial space in eastern Henrico.

Liberty Property Trust last week purchased 95 acres at 5800 Technology Blvd., where it plans to build a new warehouse and office building of about 200,000 square feet.

Renderings included in development plans the company filed with Henrico County list Associated Distributors, a large alcoholic beverage distributor, as the planned tenant for the property. Those plans were approved by the county in May.

Liberty’s acquisition of the 95 acres closed Aug. 4 for $1.5 million. The seller was an entity called Elko II LLC, which had owned a share of the property since at least 2007.

Copyright Richmond BizSense. Find the full article here.