BOSTON– Rockpoint, a Boston-based real estate private equity firm, announced the acquisition of Eastport Industrial Park (“Eastport”), an eight-building, 1,068,995-square-foot, shallow-bay infill industrial portfolio located in Richmond, Virginia.
Rockpoint will manage and operate the portfolio in partnership with Rockhill Management, Rockpoint’s dedicated property services affiliate, and Rockpoint Industrial, Rockpoint’s exclusive industrial operating platform. Financial terms of the transaction were not disclosed.
The eight-building portfolio is situated within Richmond’s Airport submarket and offers tenants a diverse range of building configurations and suite sizes. Eastport benefits from Richmond’s strong local labor base and a diverse mix of active industrial tenants and limited new supply. The Property is currently 97% occupied and has demonstrated strong leasing momentum, with several new leases and extensions recently signed. Situated adjacent to Richmond International Airport and with direct access to the region’s major transportation arteries, Eastport offers exceptional logistical advantages for regional and last-mile distribution and delivery throughout Virginia and the Eastern Seaboard…