Richmond warehouse complex with Amazon fulfillment center sells for $97.5M

The greater Richmond region seems to have caught the eye of Dallas-based Stream Realty Partners.

An entity sharing an address with the Texas commercial real estate company purchased 4701 and 4949 Commerce Road in Richmond for $97.5 million on April 9, according to city property records. A different entity sharing the Stream Realty Partners address, Chesterfield County records show, purchased roughly 135 acres at 15601 Route 1 in Chesterfield for $3 million on March 28.

In 2017, Panattoni Development Co., a commercial real estate developer headquartered in California, began work developing the Richmond warehouse campus, which offered 1 million square feet of space on Richmond’s Commerce Road near Richmond Marine Terminal. Amazon and Brother International, a New Jersey provider of home and office equipment, began leasing spaces at the campus a couple of years later.

An Amazon spokesperson said Wednesday the company has no plans to vacate the 460,000-plus-square-foot fulfillment and delivery center.

The City of Richmond recently assessed the combined properties at about $87.25 million.

In October, the Chesterfield Board of Supervisors approved the $1.2 million purchase of about 52.8 acres at 15601 Route 1 in Chesterfield from Stream Realty to move the county’s Appomattox police precinct from leased space to a county-owned facility.

Stream Realty and Brother International did not immediately respond to a request for comment Wednesday.