Patricio Enterprises Leases 427,000 SF; Virginia Beach Properties Hit the Market

Patricio Enterprises, a defense contractor based in Stafford County, has leased 427,115 square feet of industrial space at 2705 Commerce Road in Richmond from Alleghany Warehouse Company, Inc. The deal represents one of the largest industrial leases of the year. CBRE’s Richmond office brokered the transaction.

By Adrian Maties, Associate Editor

In one of the year’s largest local industrial leases, Patricio Enterprises, a diversified business solutions firm and federal contractor based in Stafford, has leased 427,115 square feet at 2705 Commerce Road in Richmond from Alleghany Warehouse Co. CBRE Inc.’s Richmond office brokered the transaction.

Located just north of Commerce Road and Bells Road, the facility offers 2.6 million square feet of industrial warehouse space. “Patricio approached us about a sizable warehouse requirement linked to a government contract. We were able to come to terms and structure a lease agreement in a very short period of time,” commented said Rob Dirom, a CBRE first vice president. Dirom and Joseph Marchetti III of represented Alleghany.

In other industrial news, General Foam Plastics has named Binswanger and John Lee & Associates, Inc. as the exclusive agents for the sale of two industrial properties in Virginia Beach.

The 200,000-square-foot, single-story buildings are situated on 32 acres in the Oceana Business Park at 1440 London Bridge Road. Completed in 1995, the buildings feature 6-inch-thick reinforced concrete floors; clear ceiling heights of 25 feet, 6 inches; metal halide lighting; and parking for approximately 200 vehicles. Interstate 264 is four miles south of the property, while Norfolk International Airport and the Port of Virginia complex are approximately 15 miles west.

Photo credits: Google Maps.