(To read more on the industrial market, click here.)

WYTHEVILLE, VA-GatorAm LLC, a Washington, DC-based private investment group, has acquired a build-to-suit warehouse/distribution and production center here for $34.5 million. CRG-VA LLC, a St. Louis-based entity controlled by Claycorp Realty Group, was the seller.

Asher Hyman, principal of Philadelphia-based Corvest Realty, represented the buyer. Roy Splansky and Mark Goode of Chicago-based Venture One Real Estate, together with Gregory Kloiber of the Corporate Solutions Group in the Southfield, MI-based office of Colliers International, represented the seller.

Located at 1380 Kents Ln. and situated on a 55-acre site, the 715,745-sf, single-tenant facility is located within Progress Park Regional Industrial Park, a 1,200-acre complex at the intersection of I-77 and I-81. The building was completed at the end of 2006.

The building’s tenant, Amcor PET Packaging USA Inc., an Ann Arbor, MI-based business unit of the Australian firm Amcor Limited, is using the facility to supply PepsiCo with packaging materials, primarily for its Gatorade product. PepsiCo recently completed a 900,000-sf bottling plant next to the new building. Plans call for the Amcor facility to be linked to the PepsiCo plant so the materials can move more quickly between the two operations, Splansky tells GlobeSt.com. Amcor did not return calls in time for comment.

The new facility consists of 364,760 sf of warehouse space with 30-foot clear-height ceilings, 292,845 sf of production space with 33-foot clear-height ceilings, 14,000 sf of office space, and 44,140 sf of mechanical space.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.