Ridge, the industrial development arm of Transwestern Development Co., and its partner, Principal Real Estate Investors, announced Monday the acquisition of
11.32 acres at 6885 Commercial Drive in Springfield, Va., for a distribution facility.
The site, which currently houses the former printing facility for the Army Times, will be a 190,377-square-foot distribution facility at completion in the first quarter of 2019.
“We are excited to offer the market a high-quality product to meet the increasing demand for Class A space located inside the Capital Beltway,” said Steve Kros, executive vice president at Ridge. “Due to land constraints, no comparable new product has been built within a 15-mile radius of Capital Distribution Center in the last 20 years, giving this project a clear advantage over the rest of the market.”
The site is situated near the intersection of Interstates 95, 395 and 495, providing convenient access to the entire region. The rear-load facility will feature a 32-foot clear height, 64 dock doors, 50-foot-by-43-foot column spacing, 22 trailer parking spaces, 196 car parking space and ESFR fire suppression.
Transwestern Executive Vice Presidents Steve Cloud and Caulley Deringer are leasing the property.
“Absorption has outpaced construction completions for the last six years, and quality space for large industrial users has become extremely scarce inside the Beltway,” said Cloud. “Capital Distribution Center is well-suited for single or multitenant use as small as 37,000 square feet.”
11.32 acres at 6885 Commercial Drive in Springfield, Va., for a distribution facility.
The site, which currently houses the former printing facility for the Army Times, will be a 190,377-square-foot distribution facility at completion in the first quarter of 2019.
“We are excited to offer the market a high-quality product to meet the increasing demand for Class A space located inside the Capital Beltway,” said Steve Kros, executive vice president at Ridge. “Due to land constraints, no comparable new product has been built within a 15-mile radius of Capital Distribution Center in the last 20 years, giving this project a clear advantage over the rest of the market.”
The site is situated near the intersection of Interstates 95, 395 and 495, providing convenient access to the entire region. The rear-load facility will feature a 32-foot clear height, 64 dock doors, 50-foot-by-43-foot column spacing, 22 trailer parking spaces, 196 car parking space and ESFR fire suppression.
Transwestern Executive Vice Presidents Steve Cloud and Caulley Deringer are leasing the property.
“Absorption has outpaced construction completions for the last six years, and quality space for large industrial users has become extremely scarce inside the Beltway,” said Cloud. “Capital Distribution Center is well-suited for single or multitenant use as small as 37,000 square feet.”