Regions Central Virginia

Amazon center in Chesterfield sells for $81.3 million

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The 1 million-square-foot Amazon distribution center in Chesterfield County has a new owner.

An affiliate of Cole Real Estate Investments entered into an agreement of purchase and sale on July 31 to acquire the center from affiliates of USAA for $81.3 million, according to a filing with the Securities and Exchange Commission.

The Chesterfield property, located in the Meadowville Technology Park, was built in 2012, and is 100 percent leased to Amazon. More than 1,000 people work there. USAA Real Estate Co. also owns the Amazon distribution center in Dinwiddie County and has developed many other centers for the company across the country.

According to the filing, the Cole affiliates also bought an Amazon fulfillment center in Murfreesboro, Tenn., of similar size for $69.1 million.

Cole Real Estate Investments has been an active buyer in the Richmond region in the past year. The Amazon center is the third property the Phoenix-based REIT has purchased. It also acquired Hancock Village, a 153,853-square-foot shopping center in Chesterfield County for $27.5 million and a portion of The Shops at White Oak Village in eastern Henrico County for $68 million.


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