Annapolis, Md. (May 3, 2022) – Realterm announces the acquisition of an 86-door truck terminal located at 1016 Enterprise Circle in Chesapeake, Va. The fully leased facility was built in 2017, sits on 20.71 acres and includes a maintenance shop on site.
“The Hampton Roads market continues to benefit from robust growth at the Port of Virginia,” said Arnie Capute, Associate Vice President, East Region Acquisitions, Realterm. “The property’s close proximity to the Port and immediate access to I-64 should drive future demand for this terminal, making it a valuable addition to Realterm’s portfolio.”
The population within 10 miles of this facility has grown by nearly 20 percent during the last 20 years and is projected to continue to grow. Within 500 miles, or a one-day drive, more than 100 million people can be reached from New York City to Atlanta. The second largest port on the East Coast by tonnage, The Port of Virginia, is located 17 miles north of the property.
“With proximity to The Port of Virginia and access to much of the East Coast via major interstates, this property is ideally situated to serve the region’s final mile needs and aligns closely with our strategy to acquire properties in large markets across the country,” said Stephen Panos, Senior Vice President and Fund Manager, Realterm.
Highlights of the property include:
- Square feet: 48,511 SF
- Land area: 20.7 acres
- Loading positions: 86
- Access: I-64, I-264, I-464 and I-664
Jerry Hopkins of Newmark facilitated the transaction and represented the seller.