Chesapeake Industrial Park has acquired the Port of Virginia Distribution Center in Chesapeake, Virginia for $24 million. The industrial portfolio spans 334,881 square feet and consists of two buildings totaling 11.28 acres with direct access to the Port of Virginia. The property is fully leased by five tenants including a Fortune 500 government contractor, defense contractors tied to a nearby Navy base, a national third-party logistics firm and food distribution company.
Bo McKown and Eric Robison from Cushman & Wakefield’s Capital Markets Group facilitated the sale while Ellis Colthorpe from Thalhimer’s Hampton Roads team provided leasing assistance. This acquisition marks an important milestone for Chesapeake Industrial Park as they continue their expansion into new markets throughout Virginia and beyond.
