Chesapeake warehouse sells for $13.59M
Property is 100% leased to the U.S. Postal Service
A 70,000-square-foot warehouse and distribution building in Chesapeake sold for $13.59 million in late July, Colliers announced Wednesday.
Located at 3512 Business Center Drive in the Cavalier Industrial Park, the property is 100% leased to the U.S. Postal Service and serves as a seasonal processing and distribution center. It totals 9.72 acres of land, with room for an expansion of about 70,000 square feet. Built in 1998, the property includes a 130-foot truck court.
Michael Blunt and Clay Ellis, with the Colliers Industrial Capital Markets team, as well as Chamie Burroughs, represented the seller, a joint venture led by B&D Holdings. The buyer is NATMI LPF Norfolk LLC, according to property records.