Warehouse portfolio with two Va. properties sells for $21.86M
Seven warehouses are leased to Lansing Building Products
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Seven warehouses leased to Lansing Building Products, including two in Virginia, sold for $21.86 million, Cushman & Wakefield | Thalhimer announced Friday.
The portfolio of warehouses totals 209,883 square feet, and the properties range from 20,000 to almost 50,000 square feet each. On average, 89% of each property is warehouse, and 11% is office space. The tenant, Lansing Building Products, supplies exterior building products to contractors and has more than 2,000 employees.
The two Virginia properties are in Newport News and Norfolk. The 47,664-square-foot warehouse in Newport News is located at 12661 McManus Blvd. The 40,050-square-foot Norfolk warehouse is located at 3644 Village Ave.
New Jersey-based B&D Holdings bought the properties. Eric Robison with Cushman & Wakefield | Thalhimer’s Capital Markets Group and Rett Turner with Thalhimer’s Global Occupier Services Multi-Market Team represented the seller. Lansing entities owned the Virginia properties, property records show.
The other warehouses were in Statesville and Wilmington, North Carolina; Oklahoma City; Myrtle Beach, South Carolina; and Ogden, Utah.
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