JAMES CITY-The Enterprise Center at Hazelwood Farms in the upper part of James City County recently sold.
The property, which sits on 328 acres along Olde Stage Road, was sold for $12,000,000, according to a release issued May 22 by Cushman & Wakefield/Thalhimer. The sale was handled by Cushman & Wakefield/Thalhimer in partnership with Berkshire Hathaway HomeServices RW Towne Realty.
The release stated that Lovett Industrial purchased the property and plans to develop Class A facilities targeting manufacturers, importers, and warehousing and distribution companies. The site was selected by the developer due to its close proximity to the Port of Virginia along the Interstate 64 corridor between Hampton Roads and Richmond.
“The Cushman & Wakefield | Thalhimer industrial team is excited to have assisted in the sale of the Enterprise Center at Hazelwood Farms,” said Geoff Poston, senior vice president of Thalhimer. “We look forward to the next phase of development and lease-up, attracting highly coveted industrial users to the region in support of the Port of Virginia. The site is very well-positioned to accommodate users heading west from the Port of Virginia to the Northeast and Midwest regions by leveraging its strong labor supply pool and recent nearby transportation improvements.”
The James City County Board of Supervisors first approved the project in late 2021. At the time, plans for the Enterprise Center at Hazelwood Farms called for up to 75,000 square feet of commercial use and up to 250 residential dwelling units. Proposed plans included apartments and multiple-family homes; fast food restaurants; truck terminals; space for textile manufacturing; space for heavy equipment sales and service; and a convenience store, among other amenities. The supervisors approved the plans with the intent of the project to be a major source of employment for the county.
Cushman & Wakefield | Thalhimer has been awarded leasing and marketing services for the future development project.