Northgate Commerce Park is less than eight miles from the new APM Terminals Virginia facility in Portsmouth, and the increased traffic was one of the reasons ProLogis' decided to develop here, Williams tells GlobeSt.com. "It is part of the company's overall strategy of going to the port markets."
Six buildings are planned for full build-out, he says, although that mix could change if the company is contracted for a build-to-suit facility. ProLogis will start the site work for the first two buildings within the next 30 days, Williams says. The two buildings will be 150,000 sf and 490,000 sf, with the option to expand to 770,000 sf, if necessary.
Ground will break on the project in December and the first two buildings, being developed on spec, will deliver mid-next year, Williams says. ProLogis did not return calls in time for deadline.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
