California firm goes big in Henrico County with $245M worth of warehouse deals

Posted at 6:32 AM, Nov 08, 2023
and last updated 2023-11-08 06:32:11-05

RICHMOND, Va. -- A West Coast real estate firm quietly made a nine-figure splash in the Richmond-area industrial market in recent months.

Irvine, California-based firm LBA Realty is the new owner of more than 2 million square feet of warehouse space spread across more than a dozen buildings in Henrico County.

Its biggest buy was the $191.6 million purchase of the Richmond Distribution Center complex, which spans 1.9 million square feet in a dozen warehouses on 202 acres at 4101-4645 Carolina Ave.

Built mostly in the 1980s, the industrial park boasts tenants like packaging company Temperpack, Amazon’s Flex division and flooring supply firm East Bay Supply Co.

Continue reading this story on Richmond BizSense.

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