CoreOne Industrial Enters Richmond Market with Acquisition of 221,056 SF Industrial Facility and Adjacent 3.26-Acre IOS Site

Announcement - 10/19/2026

Darien, CT - CoreOne Industrial, LLC ("CoreOne"), a privately held industrial real estate investment firm headquartered in Darien, CT, has acquired 7400 Impala Drive and 3007 Vernon Road in Richmond, VA. The acquisition includes a 221,056-square-foot multi-tenant industrial facility situated on 9.94 acres and an adjacent 3.26-acre industrial outdoor storage (IOS) site.

Built in 1974, the reinforced concrete facility features 32' to 34' clear heights, ESFR sprinklers, 4,000-amp, 480-volt heavy power, 12 dock-high doors, and one drive-in door. At acquisition, 83,842 square feet was leased to Recycling Management Resources ("RMR"), with the remaining 137,214 square feet vacant.

CoreOne plans to make significant improvements to the property, including removing approximately 24,094 square feet of excess office and mezzanine space to create a fully functional 113,120-square-foot warehouse suite. The renovations will also include new dock packages, a spec office build-out, and improvements to the building's exterior and surrounding site. CoreOne intends to lease the adjacent 3.26-acre IOS parcel separately, which currently includes approximately one acre of stabilized trailer parking.

Located near Interstate 95 and U.S. Route 33, the property provides convenient access throughout the Richmond metropolitan area and the broader Mid-Atlantic distribution network. The acquisition marks CoreOne's first investment in the Richmond market and seventh in Virginia, building on the company's existing presence in Newport News and Fredericksburg.

Robert DePiero, Chief Investment Officer of CoreOne, stated, "Richmond has been on our radar for some time, and 7400 Impala Drive presented an attractive opportunity to enter the market. The property has strong fundamentals, including excellent clear heights, heavy power and convenient highway access. Our capital improvement plan will allow us to modernize the building and deliver a highly functional warehouse suite, while also creating a separate leasing opportunity for the adjacent 3-acre outdoor storage parcel. This is exactly the type of value-add investment we look for."

Joe Burton, President of CoreOne, added, "Virginia continues to be an important market for CoreOne, and Richmond is a natural extension of our existing portfolio along the I-95 corridor. With limited availability of functional industrial assets and a strong tenant base, we believe the market offers significant opportunity for continued investment. The outdoor storage component also aligns well with our strategy of expanding our IOS portfolio, and we look forward to building on our presence throughout the region."

The transaction was facilitated by Bo McKown of Cushman & Wakefield | Thalhimer. Acquisition financing was provided by ArrowMark Partners and arranged by Gary McGlynn and Jason Smith of Northmarq.

CoreOne continues to actively pursue industrial acquisitions throughout its target markets across the United States, with a focus on well-located value-add properties, underutilized industrial assets, and sale-leaseback opportunities. The firm also remains focused on expanding its national Industrial Outdoor Storage portfolio, targeting strategically located outdoor storage sites in established industrial markets and key transportation corridors.

Please contact with any opportunities:

Robert DePiero (201) 739-4529

Corey Isdaner (917) 242-1899

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