Cushman & Wakefield arranges sale, financing of 1M s/f Richmond industrial portfolio

Rockpoint acquires property from Equus Capital Partners for $142M

RICHMOND, VA — Cushman & Wakefield announced that it arranged the sale and financing of Eastport Industrial Park (“Eastport”), an eight-building, 1,068,995 s/f class A industrial portfolio in Richmond, VA. Rockpoint, a real estate private equity firm, acquired the property from Equus Capital Partners (Equus) for $142 million.

Cushman & Wakefield’s Industrial Advisory Group (IAG) Mid-Atlantic Sales team of Jonathan Carpenter, Graham Savage, Dawes Milchling and James Check, alongside Eric Robison and Bo McKown of Cushman & Wakefield affiliate Thalhimer, represented Equus in the sale. The firm’s Equity, Debt & Structured Finance (EDSF) team, including John Alascio, TJ Sullivan, Chris Meloni and Michael Zelin arranged acquisition financing through a global alternative investment firm on behalf of Rockpoint.

“Eastport represents a best-in-class industrial portfolio in Richmond, VA, one of the tightest and best-performing industrial markets on East Coast,” said Carpenter. “Our marketing efforts produced more than 15 offers for the portfolio, a testament to the quality of the assets and the growing interest from institutional investors in the Richmond marketplace.”

Alascio added, “We are proud to have worked alongside our IAG partners to represent Rockpoint in securing acquisition financing for this industrial portfolio. Our process yielded over a dozen financing bids, including multiple options for a larger aggregation credit facility, underscoring the continued hypercompetitive debt market for infill industrial opportunities on behalf of institutional sponsors.”

Located near I-95 and Richmond International Airport, Eastport features eight modern warehouse and logistics buildings with 25-foot clear heights and 182 loading positions. The property was 97% leased to 19 tenants at closing.

Richmond remains one of the nation’s most resilient industrial markets, supported by limited supply, robust port connectivity, and sustained tenant demand. The Airport submarket, where Eastport is located, maintains a 2% vacancy rate and has experienced over 120% rent growth since 2020.