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Warehouse portfolio with two Va. properties sells for $21.86M

Seven warehouses are leased to Lansing Building Products

//February 27, 2023//

Warehouse portfolio with two Va. properties sells for $21.86M

Seven warehouses are leased to Lansing Building Products

//February 27, 2023//

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Seven warehouses leased to Lansing Building Products, including two in Virginia, sold for $21.86 million, announced Friday.

The portfolio of warehouses totals 209,883 square feet, and the properties range from 20,000 to almost 50,000 square feet each. On average, 89% of each property is , and 11% is office space. The tenant, Lansing Building Products, supplies exterior building products to contractors and has more than 2,000 employees.

The two Virginia properties are in and . The 47,664-square-foot warehouse in Newport News is located at 12661 McManus Blvd. The 40,050-square-foot Norfolk warehouse is located at 3644 Village Ave.

New Jersey-based B&D Holdings bought the properties. Eric Robison with Cushman & Wakefield | Thalhimer’s Capital Markets Group and Rett Turner with Thalhimer’s Global Occupier Services Multi-Market Team represented the seller. Lansing entities owned the Virginia properties, property records show.

The other warehouses were in Statesville and Wilmington, North Carolina; Oklahoma City; Myrtle Beach, South Carolina; and Ogden, Utah.

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