Becknell Industrial Announces Acquisition of Airport Distribution Center in Richmond, Virginia

INDIANAPOLIS, IN--(Marketwired - November 04, 2014) - Becknell Industrial has completed the purchase of an 116,000 square-foot multi-tenant distribution facility and 39.9 acres of land in the Airport Distribution Center located just outside Richmond, Virginia.

Built in 2008, 2500 Distribution Drive features 32′ clear height, 52′ x 57′ column spacing, 30 truck docks, and three drive-in doors. Located in southeast submarket of Richmond, the facility provides convenient access to the Richmond International Airport and to Interstates 295 and 95. Situated on 6.8 acres, the existing building is fully leased to MeadWestvaco, Batesville Casket and Forward Air Solutions. The remaining 39.9 acres include three pad ready sites that can support an additional 564,500 square feet of planned new development.

"This acquisition is a great addition to our portfolio as it meets our criteria of modern, well-located buildings in strong submarkets," said Pete Anderson, Becknell's Executive Vice President Investments. "In addition, we were pleased with the opportunity to purchase pad ready industrial land in a market that lacks Class A inventory."

Clifford B. Porter, SIOR, CCIM, of Porter Realty Company represented the seller, Birmingham-based Graham & Company, who purchased the site in 2006. Becknell Industrial has retained Porter Realty as its exclusive agent for future development. For more information about Airport Distribution Center, please visit available land opportunities at www.becknellindustrial.com/properties.

About Becknell Industrial
Becknell Industrial specializes in the development, investment and management of industrial properties across the United States. The company currently owns interests in more than 100 properties totaling over 10 million square feet. Vertically integrated, Becknell is responsible for every aspect of the project providing the decision-making authority and expertise to meet client expectations for a high-performance facility delivered on time and on budget. More information about Becknell is available at www.becknellindustrial.com.

About Porter Realty
Porter Realty Company Inc. is Richmond, VA's industrial market expert, handling more product than any other firm in the metro area. Family-owned and operated since 1965, Porter Realty offers a full range of brokerage services, including lease administration and property management, all customized to fit the needs of the individual client. Porter Realty is also a member of CORFAC International (Corporate Facility Advisors) whose network reach extends to commercial firms in 65 countries worldwide. Visit www.porterinc.com for additional information.