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Pennsylvania firm, EQT Exeter, has wrapped up the year with a nearly nine-figure industrial deal in Henrico County. The company purchased four warehouses at the Airport Distribution Center in Varina and one in central Henrico for $90.9 million, according to county records.
The four Varina warehouses are located at 2400, 2500, 2600, and 2700 Distribution Drive, while the fifth is at 8750 Park Central Drive, near the planned GreenCity development. The total square footage of the warehouses is 745,000, with all buildings fully leased to tenants including WestRock, Veritiv, and Prime Meats.
The seller was Raith Capital Partners, a New York firm that acquired the properties in 2021 for $65.4 million from their original developer, Becknell Industrial. EQT Exeter's purchase is part of a larger deal involving 33 properties across 10 cities in the Midwest and Southeast.
EQT Exeter is a privately held investment firm with over $30 billion in assets worldwide. The company has other holdings in the Richmond area, including a VCU Health-anchored warehouse and a facility near Richmond Raceway.
The sale marks the second high-dollar industrial deal in Henrico in recent months, following QTS's purchase of LL Flooring's 1-million-square-foot distribution center for $104 million as part of its bankruptcy asset sale.
