Capital Markets Group Completes $17.7MM Investment Sale of Old Stage Distribution Center in Chest

RICHMOND, Va. - Dec. 28, 2021 - PRLog -- Cushman & Wakefield | Thalhimer's Capital Markets Group represented the seller, LNR Partners, in the marketing and sale of The Old Stage Distribution Center in Richmond (Chesterfield County), Virginia. The 375,000 square foot distribution building on 33 acres is located at 11200-11300 Old Stage Road, directly off I-95, in one of Richmond's strongest industrial submarkets. The facility is fully leased to a leading manufacturer of commercial refrigeration products and is a key component in the company's supply chain functioning as their main warehouse on the East Coast, transporting products throughout the U.S. and Canada.

Diamond Acquisitions, a family office out of New York, acquired the asset on December 27, 2021 for $17.7MM. It represents their first acquisition in the Richmond market. The sale was completed by Bo McKown and Eric Robison of Thalhimer's Capital Markets Group, along with assistance from Graham Stoneburner, also with Thalhimer. Brad Geiger of Cushman & Wakefield's Equity, Debt & Structured Finance Team secured financing for the purchaser.

Bo McKown, Associate, Capital Markets Group
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