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. industria