Suffolk Logistics Center

Suffolk Logistics Center in Suffolk, Virginia is a 261,000 SF industrial park that we acquired in late 2023. The property is spread across 6 buildings and has an excess yard space of 9 acres. The property had significant deferred maintenance and we have begun a repositioning scope that includes improved drainage disposal, new asphalt, metal building repairs, 3-tone exterior paint scheme, new signage, and roof repairs. 

The property was fully occupied at rents 50% below market value, so we’ve implemented a gradual rental increase schedule to appeal to both existing and new tenants. We expect the renovations to be completed within the next 6 months.