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Richmond Industrial Developers Believe the Time Is Right To Go Big

With Vacant, Available Industrial Space at 15-Year Lows, Construction Underway on More Than 13 Million Square Feet Across the Region
East Coast Commerce Center is a 1.1 million-square-foot speculative industrial building under construction in Ashland, Virginia. (Adam Lawson/JLL)
East Coast Commerce Center is a 1.1 million-square-foot speculative industrial building under construction in Ashland, Virginia. (Adam Lawson/JLL)
By Michael Cobb
CoStar Analytics
May 27, 2022 | 7:05 P.M.

Demand for industrial space throughout the greater Richmond, Virginia, metropolitan area has been soaring. Roughly 10.5 million square feet of industrial space in the region was leased in 2021, dwarfing the previous high mark of 7.3 million square feet set just one year earlier in 2020.

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