2022 will feature city boom in industrial openings – The Suffolk News-Herald
The year 2022 is expected to see a transformative boom in industrial openings in Suffolk.
Between Amazon opening its robotic distribution center in Northgate Commerce Park in the northern part of town, to a trio of buildings in the Virginia Port Logistics Park off US Route 58 and a pair of buildings in logistics centers in North Suffolk and off Route 58 Bypass and Carolina Road to the south, more than five million square feet of openings will dot the cityscape over the next year or so.
“The development activity taking place in the City of Suffolk is important to the future of the Port of Virginia and to the economy of the Hampton Roads area,” said Stephen A. Edwards, CEO and Executive Director of the Virginia Port Authority in a statement. “There is a real economic advantage for a company when it is located close to its logistics platform, and there are important advantages for us because we can work with this company to increase its volumes of freight passing through our efficient gateway. “
Edwards said the jobs and future economic investment in the town and area of Hampton Roads are equally important, and he commended the town’s leadership and economic development team for promoting it as a place of desirable business.
Mayor Mike Duman said it was an exciting time to be in the city.
“The city’s long-term investments in our infrastructure, workforce, services and equipment are reflected in high-quality industrial development opportunities,” said Duman. “These sprawling buildings that rise today are prime examples of private investment as a result of public infrastructure commitments.”
Amazon’s fulfillment center in the city, nearing operational completion and slated to open in the first three months of 2022, is 860,000 square feet in size and at 90 feet tall, it is four floors and a half.
In total, it will have more than 3.8 million square feet, making it the second largest building in the state after the Pentagon, and it will employ around 1,000 people.
At Virginia Port Logistics Park, in another growing area of the city off the main east-west corridor of Route 58, GXO, a division of XPO Logistics, leases a 348,500 square foot building. A 307,200 square foot building will be leased by a new market tenant to be announced, and another 278,600 square foot building will be leased by an expanding tenant, also to be announced.
Equus Capital Partners owns and develops the planned industrial park of over 900 acres and currently has approximately 2 million square feet of space. Companies such as Ace Hardware, Friant Furniture, Emser Tile, NEXCOM and Massimo Zanetti Beverage already operate there.
In North Suffolk, RoadOne Intermodal Logistics will lease the 338,000 square foot Building One in the Portside Logistics Center, owned and developed by Brookwood Capital Partners owns and develops the logistics center, and Harvey Lindsay Real Estate is leasing it. The planned development was designed to provide 570,000 square feet in two separate buildings.
Another 813,721 square feet of industrial space in the Coastal Logistics Center off Route 58 Bypass and Carolina Road is marketed for lease during the last three months of 2002. Flint Development owns and is developing the property, and CBRE la rented. Site work recently began on the planned 70-acre site.
The additional phases will include over 1.6 million square feet and 3,000 trailer spaces.
Businesses viewed the city’s proximity to the Port of Virginia, extensive regional transportation infrastructure, available land, and access to a pool of skilled labor as assets to attract industrial development and investment. .
Other industrial projects are in their early stages.
At McDonald Development’s 219-acre Westport Commerce Park off Highway 58, site clean-up and on-site infrastructure preparation work has begun on a site that can accommodate more than 2 million square feet of industrial space in several buildings.
Off Benton Road, the 72-acre Virginia Distribution Center, which IRG Development owns and leases Harvey Lindsay Real Estate, can manage nearly 1 million square feet of industrial space.