A joint venture between Tramview Capital Management (“Tramview”) and Regal Ventures recently closed the acquisition of a ~70,739 SF industrial manufacturing facility on ~7.6 acres in the Southwest submarket of Richmond, VA (the “Property”). Built in 1987 and significantly renovated in 2013, 2016, and 2026, the well-located Property features 17’ to 19’ clear heights, 9 dock-high doors, 3 drive-in doors, and 94 surface parking spaces. In addition to the ~70,739 SF main building, the tenant recently added two new storage buildings to the Property.
The Property is 100% leased to Integrated Global Services, Inc. (“IGS”), a global provider of surface protection solutions to the energy, petrochemical, refining, power, and paper industries, and serves as the company’s global headquarters. In connection with the acquisition, the venture completed a lease amendment extending IGS’s term for an additional 10 years beginning in April 2029.
The Richmond industrial market, encompassing approximately 119 million square feet, is a logistics and manufacturing hub within a ~48-hour drive of roughly 75% of the U.S. population and has maintained sub-5% vacancy, while the Property’s Southwest submarket exhibited a vacancy rate of just ~4.1% as of Q1 2026 (Cushman & Wakefield). Richmond benefits from the convergence of I-95, I-64, and I-85, service from two Class I railroads (CSX and Norfolk Southern), and proximity to the Port of Virginia – the East Coast’s 3rd largest and most modern port – supporting durable demand from manufacturing and distribution users. The market’s diversified economy and skilled labor force are anchored by major employers including DuPont, Honeywell, Mondelez, Philip Morris, Performance Food Group, Amazon, and others. The Property is well located along the Route 288 corridor with direct access to Chesterfield County Airport (~1 mile), I-95 (~8 miles), the Port of Richmond (~12 miles), and the Port of Virginia (~93 miles).
“7600 Whitepine Road exemplifies the type of industrial opportunity Regal Ventures targets: a mission-critical facility in a supply-constrained market, occupied by a longstanding tenant that continues to invest in the property,” said Alexander Smith, Co-Founder and Managing Partner of Regal Ventures. “The long-term lease extension with IGS provides stable and growing income and reinforces our conviction in both the asset and Richmond’s industrial fundamentals. Our firm is excited to partner with Tramview on an investment that combines a disciplined basis, strong current cash flow, and meaningful embedded growth.”
Robert Davies, Managing Partner of Tramview, stated: “We are pleased to partner with Regal Ventures to acquire this well-located property at an attractive basis below replacement cost in a supply-constrained market. The healthy acquisition yield and long-term lease extension secured with IGS provide strong, durable cash flow, and the embedded mark-to-market rent increase in 2029 positions the investment to generate attractive returns for our investors.”
ABOUT REGAL VENTURES:
Regal Ventures is a New York City–based real estate investment manager and operator specializing in infill retail and small-bay/flex industrial assets in select major U.S. MSAs. Founded in 2019 out of a single-family office, the firm brings an owner-operator approach to acquiring well-located, middle-market properties at a disciplined basis, creating value through active management, lease-up, and mark-to-market rent growth. Backed by a partnership that has managed and operated over $1.5B of real estate, Regal Ventures provides high-net-worth, family office, and institutional capital partners access to coveted, mispriced opportunities across the middle market. For more information, please visit https://regalventures.com.
ABOUT TRAMVIEW CAPITAL MANAGEMENT:
Tramview Capital Management is a value-oriented real estate investment management firm focused on investing in institutional-quality real estate in targeted growth markets across the U.S. Tramview leadership has overseen and managed approximately $5 billion of equity invested globally across property types and throughout the capital stack on behalf of institutional clients (e.g. pension funds, sovereign wealth funds, endowments, foundations), wealth management firms, and high-net-worth individuals. For more information, please visit https://tramview.com.
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