Northern Virginia Gateway - Phase II

210 Centreport Parkway, Fredericksburg, VA, 22406, US

Description

Jones Lang LaSalle Americas, Inc. (“JLL”) has been retained as the exclusive sales representative by the Owner to market for sale Northern Virginia Gateway - Phase II (“210 Centreport” or the “Property”) – a 559,480 square foot, newly built Class A+ industrial asset in Fredericksburg, Virginia. The Property features best-in-class specifications, including 40’ clear height, ESFR sprinklers, cross-docked loading configurations, and ample trailer parking.

Northern Virginia Gateway is a newly stabilized investment offering in the growing data center and industrial node of Stafford County. The Property is currently 100% leased to data center servicing companies J.E. Richards and MEI Rigging & Crating with a Weighted Average Lease Term (WALT) of 5.6 years. J.E. Richards more than doubled space from 112,600 to 225,426 square feet in September, while MEI more recently leased up the remaining 334,054 square feet, representing the expanding demand for data center servicers in the region.

Located minutes from the access cloverleaf to both north- and south-bound I-95, 210 Centreport offers the convenient access e-commerce and supply chain/logistics companies require to efficiently operate. The Property is centrally located to serve both Metropolitan Washington, D.C. and Richmond, Virginia with a 1-hour truck trip.

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Attributes

Building area gross

559,480 sf

Occupancy

100%

Year built

2023

Number of loading docks

100

Clear height

40 ft

Parking spaces

564

Land area gross

36.17 acres

Media

Investment Highlights

DATA CENTER DEVELOPMENT REDUCING INDUSTRIAL INVENTORY

The recent acquisition of over 7,000 acres of land for data center development presents an opportunity for service providers/suppliers to the data center community and will place a premium on industrial land and rental rates.

ADVANTAGEOUS TAX SAVINGS IN STAFFORD COUNTY

Stafford County formally eliminated machinery and tools taxes and provides accelerated depreciation schedules on business property.

STAFFORD ATTRACTS DIVERSIFIED (DATA CENTER AND TRADITIONAL) INDUSTRIAL OCCUPIERS

MEI Rigging & Crating's newly signed lease and J.E. Richards’ recent expansion demonstrate a commitment to the D.C. - Richmond Corridor data center market and highlight the explosive growth of the newest demand driver - data center servicers/suppliers.

EXCEPTIONAL ACCESSIBILITY

With immediate access to I-95, 210 Centreport offers excellent accessibility to the Greater D.C. Metro and Richmond markets.

FUTURE-PROOFED DESIGN

This state-of-the-art design and base building features a cross-docked layout with two office nodes (one for each tenant), demonstrating efficient multi-tenanting, outside laydown space for both tenants while still delivering circulation and loading efficiency, loading docks equipped with premium dock packages (dock seals and levelers) and an enhanced, off-dock trailer parking ratio. Currently, tenants utilize 2,400 amps (1,600 amps to J.E. Richards and 800 amps to MEI Rigging & Crating) of power, which future ownership may elect to significantly increase by leveraging the completion of both the Kinghill and/or Lakebreeze substations.

STAFFORD COUNTY’S FORTUNE 500 TENANT ROSTER

Surrounded by institutional ownership and tenants, including Amazon, O’Reilly Auto Parts, FedEx, DHL, and McGrath.