Continental Pickett’s Line LLC has purchased two industrial buildings in Newport News, Va., in a transaction valued at $5.8 million.

 

The Nippon Express buildings are located at 281 Pickett’s Line in Oakland Industrial Park. The two warehouse/distribution facilities combine for a total of 170,000 square feet situated on 12.75 acres of land.

 

The seller was Nippon Express USA. Continental Pickett’s Line will lease back 90,000 square feet to Nippon. The other building, which comprises 80,000 square feet, is available for occupancy.

 

The property is located in Oakland Industrial Park, Newport News’ 645-acre industry park, which features the AAFES distribution center, Iceland Seafood, Printpack, Newport News Industrial Corp., Pliant and others.

 

Robert L. Phillips, Jr. of Thalhimer/Cushman & Wakefield in Newport News and Hitoshi Aratani of Cushman & Wakefield in New York, handled the sale negotiations for the seller.

 

***

 

Send a news tip or letter to the editor to newsroom@inman.com.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Time is running out to secure your Connect Now tickets at the lowest price. Don't miss out on a chance to grow yourself and your business.Learn More×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription