Pat Mumey of Cushman & Wakefield | Thalhimer’s Virginia Beach office says the sale of the 329,000 SF Johnson Development Building is great news for the the Isle of Wight & Hampton Roads, Virginia industrial market.  “A large block of space absorbed helps every landlord in the Suffolk and West side markets, as well as improving the job opportunities and general business health of our community.”

“Hampton Roads will now see a shortage of large block, class A product.  With no new spec development on the horizon, it could be an interesting 2012”, adds Bill Throne, also of Thalhimer’s Virginia Beach office.