Suffolk project offers small businesses an opportunity to own their space
- May 1, 2008
Construction is well under way on the Suffolk Commerce Center. The 30,000-square-foot project broke ground in February and is expected to be ready by June. The center, with 12 warehouse and office-flex suites, offers small businesses the opportunity to own their own facility.
“This is precisely the type of light-industrial product that many business owners have wanted,” says Mike McHenry, president of Challenger Development in Suffolk. “Eight to 10 different companies have taken a look so far.”
While none of the units are under contract, McHenry says he has talked with businesses ranging from small electrical companies to large manufacturers looking for office space close to the port of Hampton Roads. The units offer 2,500 square feet, a private entrance and a roll-up door in the back with dock-high access so trucks can drive up to the door. The units sell for $110 to $120 per square feet, or between $275,000 to $300,000. Purchasers of multiple units may be offered a discount on the rate, says McHenry.
The $2 million Suffolk Commerce Center is located in the Suffolk Industrial Park off Carolina Road. It offers a Virginia Enterprise Zone designation Existing tenants include Amadas Coach, FLEXA Furniture, Heritage Woodworks and Western Branch Metals.