Key Takeaways
- • Morgan Stanley Investment Management, through funds managed by Morgan Stanley Real Estate Investing, acquired a newly developed Class A industrial facility in Stafford, Virginia, for $172.1 million.
- • The 935,000-square-foot facility, completed in 2026, is leased long-term on a net basis to J.E. Richards, with payments guaranteed by investment-grade parent Quanta Services.
- • The asset offers 40-foot clear heights, a cross-dock configuration, and direct access to Interstate 95, roughly one hour from both Washington, D.C., and Richmond.
- • Managing director David Gross cited strong tenant credit and long-term demand drivers, including digital infrastructure investment in Northern Virginia.
Summary
Morgan Stanley Investment Management, through funds managed by Morgan Stanley Real Estate Investing, has acquired a newly developed Class A industrial facility in Stafford, Virginia, for $172.1 million, according to Institutional Real Estate, Inc.
The 935,000-square-foot property was completed in 2026 and is subject to a long-term net lease with J.E. Richards. The lease is guaranteed by J.E. Richards' investment-grade parent company, Quanta Services, which underpins the credit profile of the income stream. The building features 40-foot clear heights, a cross-dock configuration, extensive loading capacity, and access to Interstate 95. The site sits approximately one hour from both Washington, D.C., and Richmond.
David Gross, managing director at Morgan Stanley Real Estate Investing, described the acquisition as an opportunity to invest in a newly developed, high-quality industrial asset supported by strong tenant credit and compelling long-term demand drivers. He pointed to significant investment in digital infrastructure in the Northern Virginia region as a factor creating opportunities for the sector.
The transaction illustrates continued institutional allocation to modern, long-lease industrial assets with investment-grade tenant support in the Mid-Atlantic logistics market.
The 935,000-square-foot property was completed in 2026 and is subject to a long-term net lease with J.E. Richards. The lease is guaranteed by J.E. Richards' investment-grade parent company, Quanta Services, which underpins the credit profile of the income stream. The building features 40-foot clear heights, a cross-dock configuration, extensive loading capacity, and access to Interstate 95. The site sits approximately one hour from both Washington, D.C., and Richmond.
David Gross, managing director at Morgan Stanley Real Estate Investing, described the acquisition as an opportunity to invest in a newly developed, high-quality industrial asset supported by strong tenant credit and compelling long-term demand drivers. He pointed to significant investment in digital infrastructure in the Northern Virginia region as a factor creating opportunities for the sector.
The transaction illustrates continued institutional allocation to modern, long-lease industrial assets with investment-grade tenant support in the Mid-Atlantic logistics market.
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