6A — February 19 - March 12, 2021 — DelMarVa — M id A tlantic Real Estate Journal
www.marej.com
D el M ar V a
Merritt at Austin Ridge expands Stafford County, VA footprint Merritt Properties acquires 28 acres for light industrial business park
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up to five single-story buildings ranging from 54,500 to 113,775 s/f. To accommodate the mar - ket’s diverse warehouse, manu- facturing and distribution requirements, the park will offer clear heights from 18 to 32 feet, as well as traditional rear-loaded docks, drive-in capabilities, I-95 visibility and free surface parking. Site plans are still being finalized. In keeping with the robust growth of light industrial real estate in many areas across the country, Virginia is see- ing demand for this product spreading south along the I-95 corridor, positioning Stafford
County for tremendous growth. Merritt at Austin Ridge, situ - ated across from Embrey Mill Town Center, is surrounded by planned residential, retail, service, hospitality and office projects. In preparation for the area’s anticipated growth, transportation infrastructure enhancements are already un- derway, including the runway expansion at Stafford Regional Airport and a $565 million I-95 express lane extension project, scheduled to be completed in late 2022. “Merritt Properties again confirms their confidence in Stafford County’s location, workforce, and value for com- mercial investment,” stated Supervisor Gary Snellings, Hartwood District. “We look forward to continuing Merritt’s record of success as we welcome new businesses, professional services, and commercial en- terprise to the new Merritt at Austin Ridge park.” Merritt began actively pursu - ing opportunities in Stafford County in 2019. In October 2020, the developer broke ground on its first project in the county, Merritt Business Park at Quantico Corporate Center, a two-building flex/light in- dustrial project. The site will feature 171,000 s/f along the I-95 corridor, directly adjacent to the Marine Corps Base Quantico. The location offers a strong local workforce, tre- mendous access to transporta- tion systems and an extensive fiber-optic network. Both parks are designed to cater to a diverse industry base, including government contractors, distribution cen- ters, manufacturing, and ser- vice providers. “We’re excited to expand our footprint in Stafford County, where the business-friendly climate offers solid economic fundamentals,” said Scott Longendyke of Merritt’s Vir - ginia office. “Strong develop - ment in the area, coupled with consistent leasing activity at Merritt Business Park at Quantico Corporate Center, propelled this development forward.” Merritt at Austin Ridge pre-leasing is underway, and delivery is expected to occur during the second quarter of 2022. Construction will be managed by Merritt Con- struction Services , the con- struction division of Merritt Companies. MAREJ
TAFFORD COUNTY, VA — Merritt Prop- erties has successfully closed and acquired 28 acres of land in Stafford County. With historically low vacancy rates within its existing light industrial portfolio, as well as increasing demand for the product along the I-95 corri - dor south of Washington, DC, Merritt at Austin Ridge will be the developer’s second specula- tive, light industrial project in the market. Construction is expected to begin this summer. Located off I-95 at the Rte. 630/Courthouse Rd. exit, Mer - ritt at Austin Ridge will feature
Merritt at Austin Ridge
NEWYORK
PHILADELPHIA
BALTIMORE
DOVER
WASHINGTON
Located in the center of the Mid-Atlantic region. |
302-678-3057 • Lparkowski@ccded.com
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