255,000 sq. ft. of surface parked historic warehouse
Richmond, VA MSA w/ Immediate Access to I-95 and I-85
Minutes from Fort Lee, which supports approximately 70,000 people off post
Located in Virginia’s Gateway Region, an East Coast hub for advanced pharma manufacturing
Walkable to restaurants, breweries, and outdoor entertainment
PROPERTY INFO
- 255,000 sq. ft. surface parked historic warehouse
- Residential PUD (Planned Unit Development) Zoning
- Eligible for state and federal tax credits
- Historic designations in hand
SUBMARKET METRICS
- Multifamily sales in Petersburg have grown 3x over the several years
- Submarket pricing has increased by nearly $50,000 per unit since 2017
- Rent growth and occupancy have tracked those of Richmond proper
- Limited development pipeline supports healthy absorption
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