RICHMOND—Liberty Property Trust has broken ground on a spec industrial property in the 98-acre Eastport Business Center. The investment for the 129,660-square foot project—the first for the REIT in the region since 2008—clocks in at $8.3 million.
Potential tenants are expected to be local businesses seeking to expand and companies looking to locate in the region, says Craig Cope, vice president and city manager for the Virginia region.
Called Eastport VIII, the new facility will feature 54' x 45' bays with 60' loading bay, 28' clear ceiling height, energy efficient T-5 fluorescent fixtures with motion sensors, Early Suppression Fast Response fire suppression system and tilt wall construction. It will be divisible from 26,000 square feet and up.
Triad Design Group is the architect for the new project. The general contractor is Arco Design Build, and the civil engineer is McKinney & Company.
Eastport Business Center is located close to downtown Richmond, and supported by Port of Richmond, CSX and Norfolk Southern Rail as well as more than 80 trucking firms.
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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.
