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BPG Properties Acquires Distribution Facility

HARRISONBURG, VA-Tenneco Automotive was the seller. It is vacating the property as part of an expansion/relocation.

By Erika Morphy | Updated on December 18, 2006

(To read more on the industrial market, click here.)

HARRISONBURG, VA-Philadelphia-based BPG Properties has acquired a warehouse/distribution asset here from Tenneco Automotive, which is vacating the building in order to relocate to larger facilities nearby. Located at 4500 Early Rd., the 357,673-sf I-81 Distribution Center-Harrisonburg can be expanded by an additional 100,000 sf.

The acquisition price, which was not disclosed, also includes the option of additional land development of up 300,000 sf over what is roughly a 50-acre site in the Shenandoah Valley industrial submarket. BPG says it will begin to lobby for municipal approvals to develop this acreage over the next few months. Approval to develop the 100,000 sf, as well as grading and utilities, is already in place.

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