TOANO, VA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of 9000 Westmont Drive, a 175,000-square-foot, single-tenant flex facility in Toano. Robert Filley, Chandler Pace, Randall Heilig and Robert Bechtel of IPA, as well as Christopher Dale of Marcus & Millichap, represented the seller, MICPAR Realty LLC, and procured the buyer, an entity doing business as 9000 Westmont Owner LLC. The property sold for $22 million.
The property, 9000 Westmont Drive, is triple-net leased to Avid Medical Inc., a wholly owned subsidiary of Owens & Minor and sole occupant of the property. Built in 1998, the two-story facility was expanded by 25,000 square feet in 2009. The property’s warehouse area spans 113,834 square feet and the office component spans 61,118 square feet. The facility features 10 dock-high loading doors and 366 parking spaces.
Located on the Interstate 64 Peninsula, the property is situated between Newport News and Richmond. The property is also situated 51.7 miles from the Port of Virginia and 32.7 miles from Richmond International Airport.