Summit Real Estate Group is pleased to announce the acquisition of a 23-acre industrial site in Richmond, Virginia. The property was acquired on behalf of Summit’s Arrowrock U.S. Industrial Fund IV and will be developed as West Creek Commerce Center, a Class A speculative industrial project featuring one building totaling approximately 221,000 square feet.
Strategically positioned within the West Richmond submarket, West Creek Commerce Center is located in West Creek Business Park. This area offers some of the region’s strongest demographics and housing growth. The site benefits from recently announced corporate investments, including Eli Lilly’s $5 billion pharmaceutical manufacturing facility located just east of the property and Amazon’s new 3.25M square foot 5 story robotic fulfillment center.
With immediate access to SR 288, the region’s western beltway, the project offers excellent regional connectivity. The West Richmond industrial submarket remains severely supply-constrained, with a vacancy rate of only 4%, and virtually no existing Class A industrial space. As the first speculative industrial project within West Creek Business Park, West Creek Commerce Center will have first-mover advantage in a high-demand, underserved market positioned for long-term growth.
Designed with flexibility in mind, West Creek Commerce Center will target manufacturing, distribution, and industrial services tenants. The building will feature 32-foot clear heights, a 130-foot truck court with trailer parking, and a modern rear-load, multi-tenant layout, offering users efficient space in a premier location.
Construction is expected to begin in Q4 2025, with delivery anticipated in Q4 2026.