Ashley Capital Buys 798,786 SF Distribution Center in Richmond from Ace Hardware

RICHMOND, VA. — Ashley Capital has acquired 7000 Hardware Drive, a 798,786-square-foot vacant distribution center in Richmond from Ace Hardware Corp. Ashley Capital plans to immediately begin updating the property to include installing a new roof, replacing all 84 dock doors, replacing the lights with high-efficiency LED fixtures, removing an internal mezzanine and painting the interior and exterior. Ashley Capital will rebrand the property as Virginia Gateway Logistics Center. Evan Magrill and Bobby Phillips of Cushman & Wakefield | Thalhimer represented the buyer in the transaction. The sales price was not disclosed.