(INDIANAPOLIS, May 12, 2016) – Becknell Industrial announced today that it has broken ground on an industrial building on the southeast side of Richmond. The new state of the art facility is being built on 17 acres within the Airport Distribution Center. Scheduled for delivery in August, the project provides easy access to I-64 and I-95 and is located just three miles from the Richmond International Airport.
The new 216,000-square-foot facility will feature, 32' clear height, up to 44 dock doors, two drive-in doors and abundant car and trailer parking. In addition, the property will include 45' x 50' column spacing with 60' loading bays, ESFR sprinkler system and LED lighting with motion sensors.
With this new development in the Airport Distribution Center, Becknell continues to reinforce its commitment to the Richmond market. In June 2014, Becknell completed the purchase of 2500 Distribution Drive (Building C), an 116,000 square-foot multi-tenant distribution facility and nearly 40 acres of land in the park.
“Since acquiring Building C and the 3 pad sites in 2014, Becknell has been formulating its plans to construct a distribution building on one of these sites,” said Derek Hawkins,” Becknell’s Vice President - Development. “Due to good overall market fundamentals, low Class A vacancy and strong demand form users, we felt the time is right to commence construction on a modern, functional building.”
The remaining 22 acres include two pad ready sites that can support an additional 356,000 square feet of planned new development. Upon completion of the park, the Company will own nearly 700,000 feet and have invested a total of $40 million in the market.
Becknell has selected Porter Realty Company’s Cliff Porter to market this facility and additional opportunities in the Airport Distribution Center.
About Becknell Industrial
Becknell Industrial specializes in the development, investment and management of industrial properties across the United States. The company currently owns interests in 136 properties totaling nearly 16 million square feet. Vertically integrated, Becknell is responsible for every aspect of the project providing the decision-making authority and expertise to meet client expectations for a high-performance facility delivered on time and on budget. More information about Becknell is available at www.becknellindustrial.com.
Shona L. Bedwell