NorthPoint Development Acquires 655,852-Square-Foot Port of Virginia Industrial Portfolio From Equus Capital Partners
WASHINGTON, D.C. — NorthPoint Development has acquired the Port of Virginia Shallow-Bay Portfolio, a four-building industrial complex totaling 655,852 square feet in Hampton Roads, Virginia, according to an announcement from JLL Capital Markets on June 16, 2026. JLL represented the seller, an affiliate of Equus Capital Partners, in the transaction. The purchase price was not disclosed.
Portfolio Overview and Property Details
The portfolio comprises Class A distribution facilities at three addresses along Harbour View Boulevard in Suffolk — 6900, 6920 and 6950 Harbour View Blvd. — and one property at 2601 Indian River Rd. in Chesapeake. The buildings were constructed between 2005 and 2012 and feature 28-foot clear heights, concrete tilt-wall construction, and modern specifications that include rear-load and side-load configurations. Across the four properties, the portfolio includes 134 dock-high doors and six drive-in doors.
At the time of sale, the portfolio was 82% leased to 10 national and regional tenants operating across industries including transportation, distribution, technology and third-party logistics.
Strategic Location Near Port of Virginia
The portfolio's positioning near major port infrastructure was cited as a key attribute of the transaction. The three Harbour View assets in Suffolk are located less than two miles from Interstate 664, while the Indian River Road property in Chesapeake sits less than four miles from Interstate 64. Both locations provide access to Virginia International Gateway and other Port of Virginia terminals.
According to JLL, the Hampton Roads industrial market encompasses more than 84 million square feet of inventory and has experienced growth driven by port investments and regional infrastructure improvements. The portfolio's location enables distribution to more than 50% of the U.S. population within a one-day drive, JLL noted.
JLL Team and Transaction Commentary
The JLL Capital Markets team on the transaction was led by Senior Managing Director Bill Prutting, Managing Director Chris Dale, Senior Director Craig Childs, Director Ginna Wallace and Associate Andrew Baquero.
"The transaction generated exceptional institutional interest driven by the scarcity of well-positioned shallow-bay portfolios with direct proximity to the Port of Virginia," Prutting said in the announcement. "Hampton Roads continues to attract significant capital as investors recognize the market's strategic importance and strong long-term fundamentals supported by ongoing infrastructure investments."
About the Companies Involved
Equus Capital Partners is a national real estate investment manager and developer with more than 40 years of investment experience. The firm's portfolio includes industrial, multi-family and office properties across the United States. Equus is headquartered in the Philadelphia area with regional offices in Marina Del Rey, Scottsdale, Washington D.C., Atlanta, Raleigh-Durham and South Florida.
NorthPoint Development, established in 2012, is a privately held real estate operating company that specializes in developing, acquiring, leasing and managing Class A industrial, data center and multi-family properties. The company states it has owned and managed more than 160 million square feet of industrial space and that its developments have created more than 111,000 jobs and supported more than 440 industrial clients across the United States.
JLL is a global commercial real estate services and investment management company with annual revenue of $26.1 billion and operations in over 80 countries. JLL's Capital Markets group includes more than 3,000 specialists worldwide with offices in nearly 50 countries.