Morgan Stanley Real Estate Investing Buys 935,000-SF Stafford, Virginia Industrial Facility for $172.1M

Morgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing (MSREI), has acquired a newly developed Class A industrial facility in Stafford, Virginia, for $172.1 million, the firm announced Oct. 26 from New York.

The property, known as Capitol 95 Logistics, is a single 935,000-square-foot building at 211 Centreport Parkway. It is fully leased to J.E. Richards under a long-term net lease, with the obligations guaranteed by investment-grade parent company Quanta Services, Inc. The purchase price works out to approximately $184.07 per square foot.

Capitol 95 Logistics: Property Details

Constructed in 2026, the building features 40-foot clear heights, a cross-dock configuration, extensive loading capacity and immediate access to Interstate 95. The facility is near Stafford Regional Airport and approximately one hour from both Washington, D.C., and Richmond.

The building is 100% occupied by J.E. Richards, an electrical contractor and manufacturer serving the data-center industry. The lease runs for 10 years. The seller and developer was Flint Development.

David Gross on the Acquisition

"This acquisition represents an opportunity to invest in a newly developed, high-quality industrial asset supported by strong tenant credit and compelling long-term demand drivers," said David Gross, Managing Director at Morgan Stanley Real Estate Investing.

"The Northern Virginia region continues to benefit from significant investment in digital infrastructure, which is creating opportunities across the broader ecosystem of businesses and real estate that support its continued expansion," Gross said.

Data-Center Demand Behind the Lease

J.E. Richards plans to use the facility for data-center components and other hardware, with approximately 500 employees expected to work at the site. The occupancy illustrates how data-center growth in Northern Virginia is generating industrial demand beyond server facilities, including electrical equipment, specialty contractors, manufacturing, storage and regional distribution.

The lease has been characterized as the largest industrial lease between the Metro D.C. and D.C.-Richmond corridors, and the building is one of only two Class A industrial properties exceeding 800,000 square feet across the two markets.

Stafford's position along I-95 provides access to Washington, D.C., Northern Virginia, Richmond and the broader Mid-Atlantic region. The cross-dock layout and loading capacity suit high-volume movement of equipment and components rather than conventional light industrial or small-bay distribution.

Morgan Stanley Real Estate Investing Profile

MSREI is the global private real estate investment management business of Morgan Stanley. The firm said it has been an active property investor for more than three decades and pursues global value-add and opportunistic strategies as well as regional core and core-plus strategies. MSREI has 17 offices across the U.S., Europe and Asia and manages $58 billion of gross real estate assets worldwide on behalf of its clients.

Morgan Stanley Investment Management has more than 1,300 investment professionals and $2.1 trillion in assets under management or supervision as of Sept. 30, 2026. Morgan Stanley (NYSE: MS) has offices in 42 countries.

Market Implications

The transaction gives MSREI a newly built, fully leased logistics asset with a corporate guaranty from an investment-grade parent. The $184 per square foot price offers a reference point for large, newly delivered industrial assets in the Washington-Richmond corridor, where data-center-related demand continues to shape tenant requirements.

Sources

• Morgan Stanley Investment Management press release, Oct. 26, 2026: MSREI Acquires Logistics Facility in Virginia for $172.1M