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Q4 2020 | Industrial Research and Forecast Report

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Richmond industrial market completed 2020 with over 4.6 million square feet of leasing activity

Key Takeaways:

  • Richmond’s industrial market experienced a 58% increase in leasing activity over the 4th quarter accumulating nearly 1.3 million square feet of total leasing volume.  Despite supply chain difficulties during the COVID-19 pandemic, total annual leasing activity still outpaced 2019’s figure by 11.2% equating to 4.66 million square feet of leasing.
  • User requirement volume in the market increased to nearly 6.6 million square feet in Q4, a 2.2% increase over Q3 and a 25.2% increase over Q4 2019. Also of note, the median requirement size of tenants in the market has jumped 25%year-over-year to 125,000 square feet.

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Q4 2020 | Industrial Research and Forecast Report

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Related Experts

Komail Khaja

Director - Research

Richmond - North

Komail is the Director of Research for Central, Western, and Southeastern Virginia.  As of February 2022, Komail also oversees research operations in Raleigh, NC.  He joined Colliers | Virginia in January of 2019.

Komail oversees research operations throughout the region, manages the Research Analysts in the company, and supports all the company’s brokers primarily in the Richmond and Norfolk offices.  He began his real estate career in 2014 as a Real Estate Services Manager for the Fairfax County Economic Development Authority and then moved to CBRE as a Business Research/Data Intelligence Analyst.  He provides valuable customized research data which includes market trends, lease and sale comparables, GIS mapping, economic information and more.  In addition, he is also responsible for quarterly market reports, maintenance of the company research database, and tracking notable news/patterns pertaining to the local real estate market.

His foundations are in Geographic Information Systems (GIS), data visualization, urban planning, demographics, and business development. 

Komail understands the needs of clients and works to deliver top-notch market research and analysis to help our sales professionals deliver the best service to their clients so they can make the most informed decisions on their real estate needs.

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Matt Anderson

Executive Vice President

Richmond - North

Matt joined the firm in 2006 as a junior agent with no previous real estate background, learning the business from the ground up. He quickly became an integral part of the brokerage team representing owners and occupiers of office and industrial properties. 
Matt’s role as a strategic advisor to the businesses he works with has evolved into a passion for regional prosperity. He has had the opportunity to be a part of some of the most exciting real estate transactions in the Richmond MSA that have created significant employment opportunities in the community. Since 2006, he has negotiated over 800 transactions valued at over $1 billion involving government agencies, national corporations, REITs, national developers, and local businesses. 
In 2017 Matt earned the SIOR designation (Society of Industrial and Office Realtors®). This designation is a professional symbol of the highest level of knowledge, production, and ethics in the real estate industry. To ensure he keeps current with real estate trends and practices, Matt attends conferences and is an active member of various industry associations. Matt takes great pride in his teamwork, communication, and the highest level of customer service. 
Matt provides the following services to his clients with a strong emphasis on teamwork, communication, and the highest level of customer service: 

  • Market Evaluation        
  • Lease/Purchase Agreement Negotiation Support
  • Disposition Strategy/ Execution
  • Lease Renewal vs. Relocation Analysis
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John Carpin

Senior Vice President

Richmond - North

John Carpin has over 20 years of experience in the commercial real estate industry, with his primary responsibilities including landlord representation of industrial and office/medical properties for both institutional and local owners. In addition, he is involved with tenant representation for both national and local clients. In these capacities, John has represented landlords and tenants in the identification, acquisition and disposition of commercial assets. Since 1996, John has completed over 850 transactions totaling over $276 million in value and has been involved in over 10 million square feet of leasing transactions, while handling a portfolio of over 2.5 million square feet of office/medical and industrial properties.

In addition to Landlord and tenant representations, John has experience in investment/building and land sales. This work has provided vital experience in the building development process (pro forma evaluation), project management, (P.O.D. process, selection of architects, engineers and contractors, etc.) and lease procurement and negotiations.

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Rob Dirom

Senior Vice President

Richmond - North

Rob Dirom entered the commercial real estate brokerage business in 1997. In the last decade the industrial/warehousing product type has become his primary area of focus. Over the course, Rob has worked with land, office/flex, and office property clients and has represented buyers, sellers, landlords, tenants, and investors. Rob has worked with local, national, and international clients throughout his career, and in past years has also provided brokerage expertise for retail, land, and multi-family assignments. 
Along with brokerage, Rob has gathered extensive experience in assisting an industrial “build-to-suit” client including site searches, coordination of government incentives, and other related specialty offerings. This skill set has also become valuable is working with developers in constructing speculative or build-to-suit industrial product. Rob also has extensive experience assisting the owner/occupant investor in the purchase of industrial, office/service (flex), and office properties. Through hundreds of transactions and over two decades of industry experience, he brings a working knowledge of most brokerage processes, familiarity with an investment pro forma, and experienced insights into site readiness, construction timelines, building systems, renovation challenges, and the historic tax credit renovation process. Rob takes great pride in his teamwork and communication skills and providing the highest level of customer service. He has many career-long clients.
Rob possesses a knowledge of local market trends and the business geography of the Greater Richmond area. He enjoys interaction with all types of people and the development of long-term business relationships. In 2020 Rob earned the SIOR designation (Society of Industrial and Office Realtors®). This designation is a professional symbol of the highest level of knowledge, production, and ethics in the commercial real estate industry.  Outside of his career, Rob enjoys being outdoors, fishing, skiing, canoeing, hiking, and yard work are frequent pastimes.  He is often found tinkering with vintage cars and enjoys playing the guitar and/or appreciating music and good food.

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Marc Allocca

Senior Vice President

Richmond - North

Marc Allocca joined the firm in 2004 as a Senior Vice President. Office and office/flex properties are Marc’s primary areas of expertise and he has significant experience in both landlord and tenant representation. Additionally, Marc has assisted both users and investors in the purchase of office, industrial and office/flex properties.

Marc represents national tenants as well as many local and regional firms and effectively utilizes his experience and knowledge to develop and enhance relationships with his clients and to add value to their real estate assets, while providing the highest level of customer service. Marc began his career in the commercial real estate industry in 1997 with Advantis GVA and Trammell Crow Company.

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