Stafford County, Va — Merritt Properties has successfully closed and acquired 28 acres of land in Stafford County. With historically low vacancy rates within its existing light industrial portfolio, as well as increasing demand for the product along the I-95 corridor south of Washington, DC, Merritt at Austin Ridge will be the developer’s second speculative, light industrial project in the market. Construction is expected to begin this summer.
Located off I-95 at the Rte. 630/Courthouse Rd. exit, Merritt at Austin Ridge will feature up to five single-story buildings ranging from 54,500 to 113,775 s/f. To accommodate the market’s diverse warehouse, manufacturing and distribution requirements, the park will offer clear heights from 18 to 32 feet, as well as traditional rear-loaded docks, drive-in capabilities, I-95 visibility and free surface parking. Site plans are still being finalized.
In keeping with the robust growth of light industrial real estate in many areas across the country, Virginia is seeing demand for this product spreading south along the I-95 corridor, positioning Stafford County for tremendous growth. Merritt at Austin Ridge, situated across from Embrey Mill Town Center, is surrounded by planned residential, retail, service, hospitality and office projects. In preparation for the area’s anticipated growth, transportation infrastructure enhancements are already underway, including the runway expansion at Stafford Regional Airport and a $565 million I-95 express lane extension project, scheduled to be completed in late 2022.
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