One of mid-Atlantic’s largest industrial complexes goes on the market
- July 10, 2014
JLL said Thursday that its Hampton Roads office has been hired to sell or lease the International Industrial Center (ICC), an 870,000-square-foot building on a 62-acre campus in the Oceana West Industrial Park in Virginia Beach. The center is the former headquarters and distribution center for Lillian Vernon, a catalog company that departed the location in 2012 after filing for bankruptcy and being acquired by a new owner. It has been vacant since that time.
"There are no other properties in the mid-Atlantic region offering this size and quality for immediate occupancy," JLL Senior Vice President Deborah Stearns said in a statement. Stearns along with Associate Director Gregg Christoffersen and Managing Director Mark Levy will manage the assignment.
Located at 2600 International Parkway, the center is positioned for a user seeking scale for manufacturing, distribution and office requirements at one site. “A national or international brand that needs an East Coast headquarters, fulfillment center or industrial logistics center,” would be a good fit, said Christoffersen.
The building offers 676,000 square feet of high-bay warehouse and manufacturing space and 100,000 square feet of mezzanine area. It also contains 95,000 square feet of attached Class A office space, and features 60 dock doors with levellers, three oversized drive-in doors, 1,100 parking spaces and 50 trailer parking spaces.
Located about one and a half miles from the I-264 Interchange at London Bridge Road, the location provides interstate access to the Ports of Virginia, Norfolk International Airport and Interstate 64. The site also is eligible for Foreign Trade Zone status and other state, city and port-related incentives.
For instance, since it is close to Oceana Naval Air Station, a land-use conformity program there offers several incentives such as a 90 percent rebate of business license fees for 15 years for conforming users. “We think the incentives available to the right user make this a tremendous opportunity,” said Stearns.
Stihl Inc. purchased the 62-acre property in 2012 for just more than $18 million according to published reports at the time. At that time, the German-based manufacturer of outdoor power equipment, which has been expanding its U. S. headquarters in Virginia Beach, said the purchase was part of a strategic plan for growth, although it had no immediate plans for the complex.