Rockpoint, a Boston-based real estate private equity firm, and its dedicated industrial platform Rockpoint Industrial have acquired Richmond Trade Center, a five-building industrial campus in Chester, Virginia. The campus totals approximately 1.03 million square feet of industrial space and was described by the buyers as a portfolio of functional, high-quality buildings serving the broader Richmond industrial market.
Richmond Trade Center was developed in 2015 and sits on roughly 119 acres. The campus comprises four cross-dock warehouse buildings and one light industrial building, giving it a mix of bulk distribution and lighter industrial space within a single park setting. According to the announcement, the property offers modern specifications, strong vehicular circulation and flexible building layouts designed to appeal to a range of industrial users.
Rockhill, Rockpoint’s property services affiliate, has been engaged to manage and operate the Richmond Trade Center campus following the acquisition. The assignment places day-to-day operations and property services under the Rockhill platform, aligning asset management and operations with Rockpoint’s broader industrial investment strategy.
While financial terms of the transaction were not disclosed, the acquisition adds a sizable industrial footprint to Rockpoint’s portfolio in the Richmond area. The scale of the campus, combined with its modern design and cross-dock configuration, positions it to serve logistics, distribution and other industrial users that require efficient truck access and circulation.
Ben Harris, Head of Rockpoint Industrial, noted that Richmond Trade Center provides the firm with a collection of functional assets in an attractive park environment that can meet the needs of Richmond’s growing and diversified tenant base. He highlighted the property’s strategic location along the Interstate 95 corridor between Raleigh-Durham and Northern Virginia, a stretch that has become increasingly important for regional and national distribution networks.
Harris also pointed to Richmond’s role as one of the Southeast’s stronger industrial markets, citing the region’s momentum from increasing investment in advanced manufacturing, data centers, financial technology, health technology and related sectors. Within that context, Richmond Trade Center’s modern buildings and large-scale campus format are intended to align with tenant demand driven by these expanding industries.
The acquisition of Richmond Trade Center underscores ongoing interest from private equity real estate investors in large, institutional-quality industrial campuses in established logistics locations. With Rockhill overseeing management and operations, Rockpoint and Rockpoint Industrial will look to leverage the property’s existing physical advantages and location to serve current and future industrial tenants in the Richmond market.
