IRG Expands Portfolio in Norfolk, Virginia Acquires 298,126 Square Foot Warehouse Space

NORFOLK, Va., July 25, 2024 /PRNewswire/ -- Industrial Realty Group, LLC, one of the country's largest owners of commercial and industrial properties, announced it has acquired a 298,126 square foot warehouse facility at 3321 Princess Anne Road in Norfolk, VA. Stephanie Sanker, CCIM, SIOR, Senior Vice President and Partner, S.L. Nusbaum Realty Co. facilitated the transaction.

"We are excited to continue to grow our portfolio in the Norfolk market," said Stuart Lichter, President of Industrial Realty Group. "The property is extremely well-positioned within the Port of Virginia area, which supports our tenants' needs."

Norfolk International Terminals, Virginia International Gateway, and the Newport News Marine Terminal are within 23 miles of the project. In addition, the recently renovated site lies within an Enterprise Zone and has access to heavy power.

LION Power and Beckett Corporation are currently occupying the premises, with 193,792 square feet still available. S.L. Nusbaum Realty Co. will provide leasing services for the remaining space. For additional information, please contact: Stephanie Sanker, CCIM, SIOR, 757.640.2290, [email protected].

IRG also owns additional projects in the area including build-to-suit developments in Suffolk and Portsmouth for tenant, Unis, which were recently completed. Also in Suffolk, another IRG build-to-suit project for RoadOne is nearing completion.

About IRG
IRG is a nationwide real estate development and investment firm specializing in the acquisition, development and management of commercial and industrial real estate throughout the United States. IRG, through its affiliated partnerships and limited liability companies, operates a portfolio containing over 150 properties in 28 states with over 100 million square feet of rentable space. IRG is nationally recognized as a leading force behind the adaptive reuse of commercial and industrial real estate, solving some of America's most difficult real estate challenges. Learn more at www.industrialrealtygroup.com.

About S.L. Nusbaum Realty Co.
Headquartered in Norfolk, VA, S.L. Nusbaum Realty Co. has been a market leader in the commercial real estate industry since 1906. Services include commercial sales and leasing advisory and representation, commercial and multifamily property management, development, and a full range of financial services across all product lines throughout the Southeast and Mid-Atlantic. Find out more by visiting: www.slnusbaum.com.

For more information, contact:
Lauren Crumrine, Director of Marketing
Industrial Realty Group, LLC 
614-562-9252
[email protected]

SOURCE Industrial Realty Group, LLC