Record Year for Industrial Market in Hampton Roads
Atlanta-based MDH Partners, a leading real estate investment firm, has participated in more than $4 billion (75 million square feet) of acquisitions, developments and asset management as an advisor and investor. MDH Partners acquired the Class A industrial property located at 5391 Virginia Regional Drive in Suffolk from an affiliate of the developer, Panattoni Development Company. The CMP Global transaction makes the building 100% leased.
“We have experienced over 50% growth in our CMP Global division during 2020,” according to Darrick Lemaster, general manager for CMP Global, which is based in Suffolk. “The Virginia Regional Commerce Park building presented the perfect expansion opportunity for our growing company.”
“MDH Partners is very pleased to welcome a fast-growing manufacturer and distributor like CMP Global to the Virginia Regional Commerce Park,” noted Peter Curnyn, senior managing director, asset management for MDH Partners. “Our firm has extensive experience acquiring, managing, leasing and selling Class A industrial assets in the Norfolk / Suffolk region, and we are pleased to have another success and 100% leased building in the region.”
The 83,700-square-foot CMP Global lease continues a record year for the regional industrial market in terms of leasing activity.
Colliers International industrial agents Lang Williams, SIOR, senior vice president; Ashton Williamson, SIOR, senior vice president; and Worth Remick, SIOR, senior vice president; represented MDH Partners. Glenn Gibson and Bobby Beasley, III of Harvey Lindsay Commercial Real Estate represented CMP Global.