Matan Companies Acquires 321,000 SF at Deepwater Industrial in Richmond, VA

24 October 2023

Matan Companies announced today the purchase of two recently delivered, high-bay industrial buildings totaling 321,000 square feet at Deepwater Industrial Park in Richmond, Virginia. Boasting 36' clear ceiling heights, 52' x 52' column spacing, highly visible from Interstate 95, and strategically located just 2.2 miles from the Richmond Marine Terminal, Deepwater Industrial features redundant electric substations and ample other utilities to satisfy a full range of industrial and distribution users.

The project, which is located in a designated Opportunity Zone, delivered in February of this year, and was developed by Hourigan in collaboration with DSC Partners. The third building in the park is fully leased to Lowes, with other neighboring companies who include Amazon, Brother International, Dupont, Phillip Morris, and River Logistics.

“The acquisition of Deepwater Industrial adds to our growing Richmond-area portfolio, and we were specifically attracted to this investment by its location and visibility relative to I-95,” said Jamie Minkler, Managing Director at Matan Companies. “It will also benefit from the continued improvements being completed at the Richmond Marine Terminal and overall growth of Richmond as a logistics and distribution hub.”

The JLL industrial team of Charlie Polk, Gareth Jones, and Chris Avellana have been awarded the leasing assignment. Mesa West Capital provided the financing, which was arranged by the JLL Capital Markets Debt Advisor team led by Sue Caras, Drake Grier, and Evan Parker.