Company plans an approximately 108,000 SF Class A warehouse, Techpark Center, in the Richmond MSA’s White Oak Technology Park, next to approximately 10MSF of hyperscale data center development

RICHMOND, VIRGINIA, October 22, 2026 – Shallow Bay Realty Partners (“SBRP”), an industrial real estate investment and development firm, today announced that it received approvals from Henrico County for the development of an approximately ~108,000-square-foot Class A warehouse in Sandston, Virginia, within the greater Richmond metropolitan area. The project, Techpark Center, is anticipated to break ground in Q1 2027 and be completed by Q1 2028.

The project is located within the White Oak Technology Park just off I-64 and less than 10 miles from Richmond international airport. The park has become one of the country’s fastest-growing data center hubs, serving as home to more than 10 million square feet of hyperscale development from companies including META, QTS, and Iron Mountain. The park also supports large logistics uses for major corporate companies such as Walmart, XPO Logistics, and HP.

“This approval is a big milestone for us and for the White Oak corridor,” said Arya Ghazizadeh, Managing Partner of Shallow Bay Realty Partners. “The data center ecosystem here is creating strong demand from users who need high-quality space close to these campuses. Very little of that product exists today and supply remains constrained near these facilities, as the data centers have gobbled up all the zoned land. Techpark Center will be a unique product in what we believe to be a market with some of the strongest fundamentals in the country.”

Graham Stoneburner, SIOR and Michael Mayhew of Cushman & Wakefield I Thalhimer have been retained to handle the project’s marketing and leasing efforts.

Project highlights
• ~108,000 SF Class A warehouse
• 32-foot clear height
• 28 dock-high positions, 2 grade-level doors
• 130–185-foot truck court
• 107 car parking spaces and 23 trailer parking spaces

Strategic location
The site is less than 10 minutes from Richmond International Airport, with direct access to I-64 (the main route from the Port of Virginia) plus I-295, I-95 and I-85. Neighbors include Meta, QTS, Walmart, USPS, Bank of America and XPO Logistics.

The site sits in Richmond’s southeast industrial submarket. According to Cushman & Wakefield | Thalhimer’s Q3 2026 Market Beat, the market has 4.1% vacancy overall with a direct vacancy of 3.1%, and the southeast quadrant where the project is located has a 4.6% overall vacancy with a slim 0.7% direct vacancy. No other speculative buildings under 125,000 SF are under construction in the submarket.

For Further Information Contact:
Graham Stoneburner, SIOR
Executive Vice President
+1 804 344 7159
graham.stoneburner@thalhimer.com

Michael Mayhew
Senior Vice President
+1 804 697 3454
michael.mayhew@thalhimer.com

About Cushman & Wakefield | Thalhimer
Thalhimer was founded in 1913 and currently has offices in Richmond, Newport News, Virginia Beach, Fredericksburg, Roanoke, Charlottesville, and Lynchburg, Virginia. The company has nearly 100 broker professionals and employs approximately 545 associates. Thalhimer represents, on behalf of its clients, a property portfolio of 56 million leasable square feet, management of more than 21 million square feet of commercial property, and nearly 13,000 multifamily units. In 2025, Thalhimer completed over 1,880 transactions with a transactional volume of more than $2.04 billion. Thalhimer is the region’s leading provider of comprehensive commercial real estate services, including corporate services, investment sales, tenant representation, project management, asset management, and the sale and leasing of office, industrial and retail properties.
To learn more, visit www.thalhimer.com.
Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for occupiers and investors with approximately 53,000 employees in over 350 offices and nearly 60 countries. In 2025, the firm reported revenue of $10.3 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.
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