A large new industrial park close to Richmond International Airport is a stage nearer to shifting ahead with the closing of a seven-determine land deal.
Becknell Industrial compensated $4.26 million for 83 acres that make up the bulk of the planned initial phase of Sauer Industrial Centre, a 450-acre website just south of RIC that community developer Sauer Attributes designs to in the end fill with 3.3 million square ft of Course A industrial place.
Sauer Attributes was the vendor on the bigger of two parcels involved in the deal: a 75-acre tract that bought July 22. Whilst component of the very same deal, an adjoining 3-acre parcel owned by Gerald and Patricia Merridew was recorded as acquiring offered Aug. 2, in accordance to Henrico County residence information. The two parcels fill the northeast corner of the Airport Generate-Pocahontas Parkway interchange.
While people parcels slide about 5 acres quick of the complete quantity of land that Becknell purchased, Ashley Peace, president of Sauer Qualities, attributed the distinction to non-taxable suitable-of-way that conveyed as part of the deal.
On the internet home information did not consist of latest assessment facts for the 75-acre parcel.
Becknell’s acquire does not involve 3 more parcels that make up the rest of the Section 1 web-site. Peace explained Sauer Qualities, which continue to owns those parcels, will establish them alone.
The acquire clears the way for Becknell to start off design on two warehouse structures totaling about 726,000 sq. feet, in accordance to the company. The Indiana-centered developer beforehand submitted strategies with Henrico that identified as for a much larger footprint, with about 100,000 far more square ft.
The larger building will now complete nearly 446,700 square feet and will be a cross-docked facility. The other creating, a rear-load configuration, will complete about 279,300 sq. toes.
Becknell is aiming for completion of each structures in Might 2022. It’s performing with expense supervisor Ares Management on the job, which will include motor vehicle and on-web site trailer parking and developing features this kind of as Early Suppression Fast Reaction sprinkler techniques and LED lighting with motion sensors.
Peace mentioned Becknell has a single of the buildings leased and deferred to Becknell for affirmation on the person. A connect with to a Becknell spokeswoman was not returned Friday.
Clifford Porter with Porter Realty is managing leasing for the buildings and represented Becknell in its land purchase.
The structures kick off what is prepared to be a multi-stage improvement, with Sauer Homes building two subsequent phases that would fill Sauer-managed land on the west side of Airport Generate to as much as Laburnum Avenue.
Peace stated the firm is finalizing a conceptual format for the relaxation of the industrial centre web-site. She said initiatives to current market individuals services to opportunity users could start off in a make any difference of months.
No stranger to the place, Becknell created the close by Airport Distribution Center just west of the Sauer Industrial Heart web site. Earlier this calendar year, it offered four qualities there, together with a different at 8750 Park Central Drive in northern Henrico, to New York-centered Raith Money Companions for $65 million.
Becknell also is signed on to create a 1.1 million-sq.-foot distribution centre for Lowe’s Property Enhancement in Hanover County.