Announcement – 8/14/2024

Darien, CT – CoreOne Industrial LLC (CoreOne), an industrial real estate investment company headquartered in Darien, CT, has acquired 241 Enterprise Drive, Newport News, VA in a sale-leaseback transaction with Kitchen Design, Inc. The purchase consists of a 64,000 Square Foot warehouse on a 9.46-acre lot. Kitchen Design, Inc. has occupied the property since it was built in 1996 and creates custom cabinetry and countertops for residential and commercial properties across Virginia. The property also hosts a showroom and design center which has a variety of samples for customer viewing. This is CoreOne’s second purchase in the greater Norfolk market and their sixth acquisition in the state of Virginia.

The sale of the transaction was facilitated by Jeff Henson of Industry Real Estate Partners. Jeff Henson commented on the transaction, “It was a pleasure working with CoreOne on this sale-leaseback in Newport News. They orchestrated the contract-to-close process flawlessly and we look forward to working on similar deals in the future”.

Robert DePiero, Chief Investment Officer, stated, “Working with Kitchen Design, Inc. has been a pleasure. This property expands our footprint in the Norfolk/Virginia Beach market. The property’s strategic location in the Oakland Industrial Park is a valuable addition to our expanding portfolio.” President Joe Burton stated, “Adding this functional, high-quality asset to our portfolio is a significant milestone. Our team remains dedicated to identifying and acquiring industrial assets that meet our investment criteria located in our target markets. We are pleased to complete this transaction with our new equity partner, and we look forward to continuing our growth with them.”

Please contact with any opportunities:

Robert DePiero (201) 739-4529 and Corey Isdaner (917) 242-1899

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