July 15, 2021 – Luke Thomson of Horvath & Tremblay has successfully completed the sale of Commonwealth Building Materials in Williamsburg, Virginia. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,200,000.
Commonwealth Building Materials is located at 1701 Endeavor Drive in Williamsburg, Virginia. The Property consists of a 4.41-acre corner parcel of land with a 26,500 square foot industrial building. This is a build-to suit property constructed in 2018. The Property features a double net corporate backed lease with Commonwealth Building Materials, a subsidiary of Gypsum Management & Supply (NYSE: GMS). There are 3 years remaining with two (2), 3-year renewal options. The lease calls for attractive 2.80% annual rent increases throughout the base term and the renewal options. The property is well located among several other industrial sites including a Walmart Distribution Center, Haynes Furniture Distribution Center, and the Bail Metal Beverage Packaging facility. The site is adjacent to the Yorktown Naval Military Base that serves as a weapons and ammunition storage for the Fleet Forces Command.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.