South Shenandoah Valley Industrial Report | H2 2021

"The market continues to be landlord friendly with vacancy rates at an all time low and rents appreciating rapidly. With construction prices remaining at historic highs the demand for existing product remains strong and giving tenants limited options. We feel this trend will continue into the 2022 calendar year." - Grant Bates, SIOR | First Vice President

Key Takeaways:

Vacancy rates have compressed to a historic low of 3.8% at the end of 2021.
CNBC ranked Virginia the number one state for business for the second year in a row- the first state to be awarded the title 5 times.
Construction volume has reached a record 1.7 million square feet, with over 95% of this figure stemming from BTS projects.

South Shenandoah Valley Industrial Report 21H2

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Grant Bates

First Vice President

Charlottesville

+1 434 284 4002

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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Robert Stockhausen

Managing Director

Charlottesville

+1 434 284 4004

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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