Tramview Capital Management and Regal Ventures Acquire 70,739 SF Richmond Industrial Facility in Joint Venture
BEACHWOOD, OH — A joint venture between Tramview Capital Management and Regal Ventures has closed on the acquisition of a 70,739-square-foot industrial manufacturing facility at 7600 Whitepine Road in Richmond, Virginia, the firms announced August 7, 2026. The property, situated on approximately 7.6 acres in Richmond's Southwest submarket, is 100% leased to Integrated Global Services, Inc. and serves as the company's global headquarters.
In connection with the acquisition, the joint venture completed a lease amendment extending Integrated Global Services' tenancy by 10 years beginning in April 2029, providing long-term income visibility for the investment.
Property Details and Tenant Profile
Built in 1987, the facility at 7600 Whitepine Road has undergone significant renovations in 2013, 2016, and 2026. The main building features 17-to-19-foot clear heights, nine dock-high doors, three drive-in doors, and 94 surface parking spaces. The tenant has also recently added two new storage buildings to the site.
Integrated Global Services, Inc. — known as IGS — is a global provider of surface protection solutions serving the energy, petrochemical, refining, power, and paper industries. The company uses 7600 Whitepine Road as its global headquarters, a designation that underscores the mission-critical nature of the facility for the tenant's operations.
Richmond Industrial Market Context
The Richmond industrial market encompasses approximately 119 million square feet and has maintained a sub-5% vacancy rate. The property's Southwest submarket recorded a vacancy rate of approximately 4.1% as of the first quarter of 2026, according to data from Cushman & Wakefield.
Richmond's logistics and manufacturing profile is supported by the convergence of Interstate 95, Interstate 64, and Interstate 85, as well as service from two Class I railroads — CSX and Norfolk Southern. The market is also situated within roughly a 48-hour drive of approximately 75% of the U.S. population and benefits from proximity to the Port of Virginia, which the firms describe as the East Coast's third-largest and most modern port.
The property sits along the Route 288 corridor with direct access to Chesterfield County Airport approximately one mile away, Interstate 95 approximately eight miles away, the Port of Richmond approximately 12 miles away, and the Port of Virginia approximately 93 miles away. Major employers anchoring the Richmond economy include DuPont Capital Ltd, Honeywell, Mondelez, Philip Morris, Performance Food Group, and Amazon, among others.
Investment Rationale
"7600 Whitepine Road exemplifies the type of industrial opportunity Regal Ventures targets: a mission-critical facility in a supply-constrained market, occupied by a longstanding tenant that continues to invest in the property," said Alexander Smith, Co-Founder and Managing Partner of Regal Ventures. "The long-term lease extension with IGS provides stable and growing income and reinforces our conviction in both the asset and Richmond's industrial fundamentals. Our firm is excited to partner with Tramview on an investment that combines a disciplined basis, strong current cash flow, and meaningful embedded growth."
Robert Davies, Managing Partner of Tramview Capital Management, added: "We are pleased to partner with Regal Ventures to acquire this well-located property at an attractive basis below replacement cost in a supply-constrained market. The healthy acquisition yield and long-term lease extension secured with IGS provide strong, durable cash flow, and the embedded mark-to-market rent increase in 2029 positions the investment to generate attractive returns for our investors."
The transaction was structured as a value-add investment. The sale price, cap rate, and financing terms were not disclosed.
About the Firms
Tramview Capital Management is a Beachwood, Ohio-based real estate investment management firm focused on institutional-quality real estate in targeted growth markets across the United States. The firm's leadership has overseen and managed approximately $5 billion of equity invested globally across property types and throughout the capital stack on behalf of institutional clients including pension funds, sovereign wealth funds, endowments, and foundations, as well as wealth management firms and high-net-worth individuals.
Regal Ventures is a New York City-based real estate investment manager and operator specializing in infill retail and small-bay and flex industrial assets in select major U.S. metropolitan statistical areas. Founded in 2019 out of a single-family office, the firm focuses on middle-market properties and has managed and operated more than $1.5 billion of real estate. Regal Ventures provides high-net-worth, family office, and institutional capital partners access to middle-market opportunities.