Thalhimer Awarded Exclusive Commercial Leasing of a 1.2 MSF Class A Speculative Industrial Park
HAMPTON ROADS, VIRGINIA, August 21, 2023 – Cushman & Wakefield | Thalhimer has been selected by The Meridian Group (“TMG”) to provide exclusive leasing services for their new Class A speculative industrial park (the “Property”) known as Tidewater Logistics Center, a planned five–building, 1.2-million-square-foot Class A industrial park. The site is undergoing rezoning to support much-needed industrial development for the region.
Located in Isle of Wight along Route 460 (Windsor Blvd.), the Property is strategically located within 30 miles of the Port of Virginia marine terminals. Positioned between two of the largest MSAs in Virginia, Hampton Roads and Richmond, the Property offers a combined population of over three million full-time residents. Directly adjacent to the Property are corporate neighbors World Market (1MSF), Keurig Dr Pepper (330K SF), and Safco (300K SF). Boasting one of the lowest real estate ($0.71 / $100) and machinery and tools ($1.95 / $100) tax rates in Hampton Roads, Isle of Wight offers a diverse business climate well suited for existing businesses and those expanding into the region. (Isle of Wight Economic Development: www.insidetheisle.com)
Hampton Roads’ industrial vacancy rate sits below 2% while the market experiences record-breaking demand from 3PLs, importers, eCommerce retailers, and other users. With $5.5 billion in regional roadway infrastructure projects and $1.4 billion in port-related investments recently completed or currently under construction, the fundamentals supporting industrial development in the region are strong.
TMG (www.tmgdc.com) is a Bethesda, MD-based developer with over 30 years of experience and a development portfolio consisting of 14 million square feet. Tidewater Logistics Center will be TMG’s first industrial project in Hampton Roads and second in Virginia after One Logistics Park in Winchester along the I-81 corridor.
Geoff Poston, SIOR, Brett Sain, and Ellis Colthorpe of Cushman & Wakefield | Thalhimer are the exclusive leasing representatives on behalf of TMG.
For Further Information Contact:
Geoff Poston, SIOR
Senior Vice President
+1 757 213 4161
+1 757 213 4153
+1 757 213 4160