More industrial space is under construction throughout the Richmond metropolitan area now than at any time in the past 15 years. With just over 12 million square feet of space underway, or about 9% of the area’s existing inventory, developers have come to a market that has lagged others in terms of modernization of its industrial inventory.
Industrial Development Is Booming in Richmond, Virginia
Despite All-Time Low Vacancy, Near-Term Supply Pressures Are Mounting
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