Silverman Group Taps Range Commercial to Lease 3.3 MSF Project
SL Industrial Partners, an affiliate of The Silverman Group, has appointed Range Commercial Partners to oversee the leasing of a seven-building campus currently underway within the Crosspointe Logistics Center in Prince George, Va. Upon completion, the Class A industrial development will total 3.3 million square feet.
The 900-acre Crosspointe Logistics Center can accommodate speculative development and build-to-suit opportunities. The site is currently home to a 292,000-square-foot manufacturing building that’s leased to PGT Innovations, a building product manufacturing company. After signing the lease in November, the tenant also detailed plans to invest $54.3 million in the asset, which was previously a Rolls-Royce manufacturing facility.
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Located at 8800 Wells Station Road along the I-95 corridor, the facility will give tenants immediate access to the I-85, I-95, I-295 and Route 460 highways, as well as the Port of Virginia terminals. According to SL Industrial, the properties will cater to companies looking to grow their business in the Mid-Atlantic region.
Developing industrial facilities across the U.S.
In October, The Silverman Group affiliate also acquired the Virginia Inland Port Logistics Center, a 339,450-square-foot distribution center located in Front Royal, Va., for $38.2 million. While The Silverman Group is based in New Jersey, its overall portfolio includes more than 25 million square feet of office, industrial, retail, aviation and multifamily properties that are either owned or managed by the firm.
In addition to the seven-building industrial campus within the Crosspointe Logistics Center, The Silverman Group has more than 15 million square feet of commercial space under development across several states. Besides projects in South Carolina and Connecticut, the firm has also started work on a 97,494-square-foot industrial and manufacturing facility in Hebron, Ky., as well as on a similar 163,610-square-foot single-story building in North Brunswick Township, N.J.
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