Rockefeller Group, a property developer, and the Matan Companies, a commercial real estate services and development firm, recently created a joint venture partnership to develop a 5 million-square-foot industrial and logistics center in Suffolk, Va.
The center, Port 460 Logistics Center, is located on 500 acres and is zoned for advanced manufacturing, heavy industrial, life sciences, logistics, and warehouse uses.
In 2025, during the project’s first phase, five buildings totaling 2.4 million-square-feet are expected to be completed.
“With Port 460, we share a vision with Matan to bring a large-scale project to the market that is sufficient to match the economic growth we anticipate from the Port of Virginia’s ongoing investment in the region,” Hilary Goldfarb, Rockefeller Group senior managing director and head of development for the Mid-Atlantic region, said.
The site offers direct access to the Port of Virginia.
“With the overwhelming support of the Port of Virginia and public officials at all levels of state government, we are excited to move Port 460 Logistics Center into the next phase of the development process,” Karl Morris, Matan Companies senior managing director of development, said.
The partnership selected JLL, a professional services firm, as the exclusive leasing agent.
Matan led the site’s rezoning and will manage further entitlements.