Prince George industrial park plans huge spec warehouse expansion
February 18, 2021
The Richmond market’s industrial real estate sector continues its strong start in 2021, with a complex in the region’s southern half set to expand by nearly 50 percent.
Tennessee-based The Hollingsworth Cos. is preparing to begin work on a 650,000-square-foot industrial building in the Southpoint Business Park in Prince George.
Located at 6162 Quality Drive, the park currently houses about 950,000 square feet of industrial space across 11 buildings on its 152 acres. Hollingsworth began developing the park 15 years ago, adding to a portfolio of 18 million square feet of industrial space, located mostly in the Southeast.
Tom Mann, a VP at Hollingsworth, said the new building will be built on spec, an approach he said has been fruitful for the company recently.
“A lot of our customers will see rapid growth, and we get a call right away because we have a building that’s almost ready,” Mann said. “When COVID hit we thought it’d grind to a halt. It ended up being the opposite. Retail declined but industrial picked that back up because people were ordering from home. 2020 was great for us because we had spec buildings out there.”