M id A tlantic Real Estate Journal — DelMarVa — August 2026 — 17
www.marej.com
D el M ar V a
Demand for small-bay warehouse space drives light industrial development Merritt Properties breaks ground on Austin Ridge Business Park in Stafford County, VA S
“Stafford County continues to experience strong demand from companies seeking mod - ern, flexible industrial space with direct access to the I-95 corridor,” said Liz Barber , director of Economic Develop - ment and Tourism for Stafford County. “As interest from advanced manufacturing, technology, defense, logistics and government contracting companies continues to grow, developments like Austin Ridge Business Park help ad - dress a critical market need while expanding the inventory of high-quality sites available
to employers. We are excited to showcase this project as we continue marketing Stafford County to our targeted indus - try sectors and supporting long-term economic growth.” The buildings will feature clear heights of 20 to 32 feet, rear-loading docks, drive-in doors and truck courts ranging from 120 to 180 feet. “We’re excited to expand along the I-95 corridor as the Fredericksburg region contin - ues to attract new businesses,” said Scott Longendyke , re - gional director in Merritt Prop - erties’ Virginia office. MAREJ
TAFFORD, VA — Mer- ritt Properties has bro - ken ground on Phase I of Austin Ridge Business Park in Stafford, VA. This phase will include two class A light indus - trial buildings totaling 140,000 s/f, part of a planned five- building development designed to provide flexible, small-bay warehouse space for businesses throughout the region. Located along I-95 between Washington, D.C., and Rich - mond, Austin Ridge Business Park marks Merritt’s second project in Stafford County. The company’s first develop - ment, Merritt Business Park at Quantico Corporate Cen - ter, is fully leased, reflecting continued demand for modern industrial space in the Fred - ericksburg region. According to Cushman & Wakefield’s Q2 2026 MarketBeat report, the Fredericksburg industrial vacancy rate decreased to 6.2%, down from 7.2% a year ear - lier, further demonstrating the strength of the local market. Since 2020, Stafford County has gained nearly 14,000 resi - dents and experienced about an 18% increase in private-sector businesses. The county also added 1,671 jobs between July 2025 and June 2026, based on data from the Stafford Coun- ty Economic Development Authority . This momentum, combined with the county’s strategic location, has strength - ened demand for industrial warehouse space. However, active developers are largely focused on bulk facilities ex - ceeding 200,000 s/f, leaving the 8,000 to 25,000 s/f segment underserved with few options in newly constructed buildings. “Demand for small-bay in - dustrial space in Stafford has far outpaced supply, with va - cancy at just 6.2% and nearly every new project targeting bulk users over 200,000 s/f. Austin Ridge is the first de - velopment to bring true class A, small-bay product to this market — right where local and regional businesses need it most,” said Wilson Greenlaw, CCIM, SIOR , exclusive leasing representative with Cushman & Wakefield | Thalheimer. The two buildings included in Phase I will offer flexible layouts ranging from 3,600 to 99,000 s/f to meet a variety of business needs. Similar to Merritt’s Quantico property, the buildings are designed to support a diverse range
Austin Ridge Business Park in Stafford, VA
of users, including advanced manufacturing, warehousing and distribution, construc -
tion, government contracting, home improvement trades, technology services and more.
FROM SMALL-BAY WAREHOUSE TO BULK DISTRIBUTION BUILT FOR INDUSTRIAL GROWTH
Baltimore
MD
Dulles
Richmond Stafford
VA
Raleigh
NC
MERRITT DELIVERS INDUSTRIAL SOLUTIONS THAT SCALE Merritt develops strategically located industrial projects along the I-95 corridor that serve businesses of every size. With flexible building configurations, integrated development expertise and a long-term ownership philosophy, we create industrial environments designed for today’s market—and tomorrow’s growth. Learn more at: www.MerrittMarkets.com
Jacksonville
FL
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