Industrial Warehouse Facility Sells for $34.9M

NORFOLK, VA (July 2024) – S.L. Nusbaum Realty Co. is pleased to announce the sale of 3321 Princess Anne Road in Norfolk, Virginia. Industrial Realty Group, LLC purchased the 298,126 square foot warehouse facility from 3321 Princess Anne, LLC for $34,897,500. Stephanie Sanker, CCIM, SIOR facilitated the transaction.

“We greatly appreciate the exceptional efforts of Stephanie Sanker in orchestrating the sale of our facility. Her professionalism and dedication ensured a seamless transition to the new ownership, and we are confident that this property will be an exceptional addition to their growing portfolio.”, said the seller.

Industrial Realty Group, LLC is a nationwide development and investment firm specializing in the acquisition, development, and management of commercial and industrial real estate an operates a portfolio of over 150 properties within 28 states totaling over one hundred million square feet of rentable space.

LION Power and Beckett Corporation currently occupy 104,334 square feet within the facility. The remaining 193,792 of high bay warehouse space feet is now available for lease. S.L. Nusbaum Realty Co. has been retained to provide leasing services for the property.

Constructed in 2022, Section A, comprised of 113,450 square feet, features 36’ clear ceiling height, multiple dock doors with expansion potential, new racking in-place, office space and restrooms. Section B offers up to 80,321 square feet with dock level loading, 21’-24’ clear ceiling height and 38’ x 36’ column spacing. The building is zoned BC-1, withing an Enterprise Zone and is centrally located within close proximity to several ports.

For additional information about this transaction or available space, please contact: Stephanie Sanker, CCIM, SIOR, ssanker@slnusbaum.com, 757.640.2290.