NORFOLK, VA, September 2022 – Colliers is pleased to announce the sale of Brookside Industrial, located at 4840 Brookside Court in Norfolk, Virginia for $7,325,000. The 60,900 square foot urban infill industrial asset was purchased by Miami based Jewell Capital, LLC.
The property is 100% leased to the regional distribution hubs for the NB Handy Company and Transtar Industries and located in Norfolk Industrial Park. The immediate submarket is home to over 6.8M SF of warehouse, distribution and manufacturing facilities for some of the nation’s leading brands with unparalleled access to the broader Hampton Roads MSA.
“Well-located, highly functional small bay industrial assets provide compelling fundamentals and continue to command significant interest from both institutional and private capital,” said Mark Williford. “The Brookside Industrial process resulted in an extremely competitive environment and we are pleased to welcome the Jewell Capital team back into the Norfolk market”.
Mark Williford, senior vice president, Will Bradley, executive vice president, and Scott Adams, executive managing director, represented the seller, Baltimore based Helmsman Properties.