Rockpoint Acquires Richmond Trade Center to Expand Industrial Portfolio
Rockpoint, a Boston-based real estate private equity firm, has acquired the Richmond Trade Center, a class A industrial campus spanning 1.03 million square feet in Chester, Virginia. The property consists of five buildings on approximately 119 acres and is strategically located near major interstates I-295 and I-95 with access to over 23 million people within a 200-mile radius. Rockhill Management will manage the site post-acquisition. The acquisition aligns with Rockpoint's strategy of investing in high-quality industrial assets in supply-constrained growth markets, particularly those experiencing strong demand from sectors like advanced manufacturing and data centers. Richmond is highlighted as one of the Southeast’s strongest logistics hubs due to its infrastructure and economic activity. This purchase adds over a million square feet to Rockpoint's growing portfolio since 2020. Rockpoint has invested in more than 18 million square feet across key markets like Raleigh-Durham, Charlotte, and now Richmond. The firm emphasizes long-term value creation through strategic acquisitions and active asset management.
Topics: Industrial Property Logistics Markets Private Equity Real Estate