From Virginia Business:
Four industrial buildings in Spotsylvania County sold for $14 million and will be redeveloped into an apartment complex, Cushman & Wakefield | Thalhimer announced Monday.
The 495,830-square-foot, four-building Fredericksburg Industrial Park is located at 11800-11900 Main Street and 10857 Houser Drive in Spotsylvania County. Monument Cos. plans to redevelop the property into 525 one- and two-bedroom apartments with 14,000 square feet of commercial space, according to Cushman & Wakefield | Thalhimer.
Monument Development Fifteen LLC purchased the properties from Acorn Capital Co. LC as an investment.
Further details about the redevelopment have yet to be released. Virgil G. Nelson of Cushman & Wakefield | Thalhimer handled the sale on behalf of the seller.
Fredericksburg Industrial Park. Photo courtesy Cushman & Wakefield | Thalhimer
