Crescent Communities has announced the sale of AXIAL Gateway 95, an industrial facility located in Chesterfield County, Virginia, to LaSalle Investment Management. The transaction was facilitated by JLL Capital Markets, who advised Crescent Communities on the deal.
The facility is fully leased to Hillphoenix, a subsidiary of Dover Food Retail and a leading manufacturer of commercial refrigeration systems. The sale marks another milestone for Crescent’s growing AXIAL industrial platform, which includes several projects in the region. Among them is AXIAL Rockville 64 in Goochland County, a two-building development encompassing 335,000 square feet.
Hillphoenix’s presence at AXIAL Gateway 95 is expected to bring over 320 new jobs to the Chesterfield area. This expansion is supported by a $900,000 grant from the Commonwealth’s Opportunity Fund, in addition to local incentives and funding through the Virginia Jobs Investment Program.
Strategically situated at 16401 Walthall Industrial Parkway, AXIAL Gateway 95 offers immediate access to Interstate 95 and is part of the greater Richmond logistics corridor. Its location enables convenient connectivity to major East Coast population centers and is in close proximity to the Port of Virginia, enhancing its appeal to logistics and distribution companies.
