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Virginia Industrial & Logistics Market Report

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Amazon Makes Huge Commitments Throughout State

Market Overview

Virginia's Industrial and Logistics (VIL) inventory consists of over 154 million square feet spread over three core markets.  The Port of Virginia (POV), the sixth-largest container port in the United States, provides a convenient and efficient connection between the eastern regions of the United States and the global supply chain.  Serving as a testament to the strength of Virginia's industrial market is the increasing presence of Amazon throughout all core markets.  The e-commerce giant currently has 10 fulfilment and sortation centers as well as delivery stations throughout the state, and the company continues to expand its Virginia footprint.

Outlook

Despite the COVID-19 pandemic disrupting the global supply chain, the Virginia Industrial Market has shown resilience over the past two quarters.  Although activity has slowed as tenants evaluate the market before pursuing long term projects, deals are still moving.  There continues to be growing demand for large requirements, and established users are not being deterred by the current economic climate.  While there is a possibility of a softened market in the near term, the fundamentals are expected to remain stable. 

 


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Virginia Industrial & Logistics Market Report

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Related Experts

Robert Stockhausen

Managing Director

Charlottesville

With extensive experience in the commercial real estate industry, Rob Stockhausen is among the most knowledgeable brokers in the Central Virginia marketplace. His market expertise and approachable personality continually attracts top clients, expanding his networking base.

Rob specializes in the sale and leasing of industrial/investment properties, as well as commercial land sales in the Central/Western and Southern Virginia marketplace.

As managing director of the Charlottesville office for more than twelve years, he has developed a team of bright professionals and leads them to success each year. Under his leadership, the firm dominates the local commercial real estate market.

Prior to becoming managing director and supervising broker of the Charlottesville office in July of 2006, he worked for Real Estate III Commercial Properties, Inc. At that time, he spearheaded the development of Zion Crossroads Industrial Park. Rob’s career began in 1991 at Bullock, Terrell and Manelley (BTM) in Atlanta, Georgia, where he handled commercial leasing from both a tenant and landlord perspective. He has worked within commercial brokerage and/or private investments ever since.

 

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Grant Bates

Vice President

Charlottesville

I  joined the Charlottesville office in 2018 as a Vice President. I was born in Central Virginia and raised in Albemarle County. Being raised in Central Virginia gives me an extensive knowledge of the real estate market here and allows me to find the perfect location for my clients.

My diverse assignments include manufacturing facilities, mixed office and industrial flex properties, build-to-suit projects, and the full range of warehouse and distribution requirements. I have also represented clients with out-of-market distribution / logistics ventures and have a solid understanding of multi-faceted elements required. I approach each assignment with diligence and a bottom-line mindset – determined to optimize the value of clients’ real estate transactions.

My territory  stretches along the Interstate 81 corridor, covering Central Virginia , The Shenandoah Valley and Southwest Virginia. My large territory allows me to have a regional understanding of the current state of the industrial real estate market.

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