Developer plans 800K-square-foot industrial building in Suffolk
Kansas-based Flint Development purchased land for $4.1M
A Kansas-based industrial developer has purchased 72 acres in Suffolk for $4.1 million, with plans to construct an 813,721-square-foot logistics center by September 2022.
Cushman & Wakefield | Thalhimer announced the sale Friday, in which Geoff Poston and Ellis Colthorpe handled negotiations on behalf of the seller, Equus Capital Partners Ltd. The 72.52-acre plot at 150 Judkins Court is zoned for industrial use. The buyer, Flint Development, is planning to build the Class A industrial building, with Kansas-based Davidson Architecture & Engineering and Texas-headquartered CBRE Group Inc. and Richmond’s Timmons Group participating in the project.
According to Flint’s vice president of construction, John Puent, the building does not have any tenants yet and is a speculative project. Construction is planned to begin around Labor Day, pending approval from the city of Suffolk.
Flint, which has other industrial, retail and multi-use projects across the country, also plans to build a 1.1 million-square-foot industrial building in Caroline County, just off Interstate 95 at 0 Carmel Church Loop on 105 acres. That building also is speculative, Puent said, but has interest from multiple companies. He said that Amazon.com Inc. is not among the companies that have expressed interest.
An Army Corps of Engineers approval on the Ruther Glen project is pending, but it is planned also to open in the third quarter of 2022.