One of the complex’s five warehouses. (Courtesy Rockpoint)
An out-of-town private equity firm has made a splashy entrance into the Richmond market with a nine-figure deal in Chesterfield County.
Boston, Massachusetts-based Rockpoint recently purchased the five-building, 1 million-square-foot Richmond Trade Center warehouse complex at 2601-2701 Bermuda Hundred Road for $108 million, according to county records.
The deal is Rockpoint’s first in the region and marks the largest real estate deal in the Richmond market this year.
Spanning 119 acres, Richmond Trade Center was developed just over a decade ago as a tobacco warehouse hub for Altria subsidiary Philip Morris USA. It was known initially as the Enon Warehouse Complex.
It’s unclear whether Philip Morris is still a tenant there; neither Rockpoint nor Altria responded to requests for comment by press time. In an announcement, Rockpoint’s head of its industrial division, Ben Harris, said the deal gives the company “a portfolio of functional, high-quality industrial buildings in an attractive park setting to serve Richmond’s growing and diverse tenant base.”
The seller was Lexington Realty Trust, a publicly traded REIT that purchased the complex in 2018 for $66 million.
Rockpoint closed on the property Sept. 25. The complex was most recently assessed by the county at $108 million.
According to its website, Rockpoint was founded 23 years ago and has $13 billion in assets under management.
The Richmond Trade Center sale comes about a year after another industrial deal closed just down the road. Last fall an Amazon-anchored warehouse at 1701 Bermuda Hundred Road sold for over $31 million.
The second-largest real estate deal in the area so far in 2026 was the $82 million sale of the Innsbrook Square apartments to a New York Life affiliate. Over the summer Lingerfelt sold the Ashton Logistics Park in Chesterfield for $78 million, a deal the firm closed just days before selling another industrial park in the county for an additional $40 million.
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