Regal Ventures and Tramview Capital Management Acquire Richmond, VA Industrial Property
A joint venture between Tramview Capital Management (“Tramview”) and Regal Ventures recently closed the acquisition of a ~70,739 SF industrial manufacturing facility on ~7.6 acres in the Southwest submarket of Richmond, VA (the “Property”). Built in 1987 and significantly renovated in 2013, 2016, and 2026, the well-located Property features 17’ to 19’ clear heights, 9 dock-high doors, 3 drive-in doors, and 94 surface parking spaces. In addition to the ~70,739 SF main building, the tenant recently added two new storage buildings to the Property.
The Property is 100% leased to Integrated Global Services, Inc. (“IGS”), a global provider of surface protection solutions to the energy, petrochemical, refining, power, and paper industries, and serves as the company’s global headquarters. In connection with the acquisition, the venture completed a lease amendment extending IGS’s term for an additional 10 years beginning in April 2029.
The Richmond industrial market, encompassing approximately 119 million square feet, is a logistics and manufacturing hub within a ~48-hour drive of roughly 75% of the U.S. population and has maintained sub-5% vacancy, while the Property’s Southwest submarket exhibited a vacancy rate of just ~4.1% as of Q1 2026 (Cushman & Wakefield). Richmond benefits from the convergence of I-95, I-64, and I-85, service from two Class I railroads (CSX and Norfolk Southern), and proximity to the Port of Virginia - the East Coast’s 3rd largest and most modern port - supporting durable demand from manufacturing and distribution users. The market’s diversified economy and skilled labor force are anchored by major employers including DuPont, Honeywell, Mondelez, Philip Morris, Performance Food Group, Amazon, and others. The Property is well located along the Route 288 corridor with direct access to Chesterfield County Airport (~1 mile), I-95 (~8 miles), the Port of Richmond (~12 miles), and the Port of Virginia (~93 miles).
