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Heitman’s global core-plus strategy makes first U.S. industrial acquisition
Transactions - JANUARY 14, 2025

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Heitman’s global core-plus strategy makes first U.S. industrial acquisition

by RELEASED

Heitman has acquired an industrial property in Norfolk, Va.

The property consists of a warehouse building and spans more than 300,000 square feet. The asset has 36 loading positions, 32-foot clear heights, ESFR sprinklers, 149 car parking spaces and 75 trailer parking spots.

This transaction, undertaken on behalf of Heitman’s global core-plus strategy, represents its first industrial acquisition in the United States and demonstrates the strategy’s continued focus on high-demand logistics and distribution hubs across the globe.

The property is in Norfolk, a strategic location well suited to both regional and national distribution users and known for its growing labor pool. It is also proximate to the Port of Virginia, the third-largest port on the East Coast and home to the country’s largest naval base, Norfolk Naval Station.

“Given favorable demand drivers and the ability to access class A facilities below replacement costs, we believe the U.S. in

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