JLL to Lease Peterson Companies’ Inaugural Industrial Project
Fredericksburg site will bring to market 270-acres of industrial space
WASHINGTON, DC - September 24, 2021 - JLL announces today it has been retained by Peterson Companies to oversee the leasing of Northern Virginia Gateway, a 270-acre industrial park in Fredericksburg, VA. Peterson Companies has commenced construction on the first 630,000 square foot building in the 1.9M square foot development.
“Peterson’s initial foray into the Metro DC industrial market yields the largest industrial lease in decades,” remarked John Dettleff, Senior Managing Director and JLL’s Metro DC Industrial team leader. Peterson Companies is currently mass grading the entire 270 acres. The site will be pad ready and can deliver buildings ranging from 100,000 – 900,000 square feet in just over twelve months from a signed lease.
“Northern Virginia Gateway provides the three most important elements to an industrial occupier: scale, proximity to the nation’s sixth largest MSA and speed to market,” noted Taylor Chess, President of Development at Peterson Companies. “We have a dedicated team ready to deliver customized logistics solutions to Metro DC’s largest industrial occupiers,” added Taylor Chess.
Northern Virginia Gateway is the first of several industrial projects that Peterson Companies has in the development pipeline throughout the Metro DC region. “We have utmost confidence in the industrial market and the unparalleled development track record of the Peterson team,” remarked Taylor Chess. “We are eager to bring high quality industrial buildings to market to support the needs and growth of Metro DC’s ecommerce infrastructure.”
Northern Virginia Gateway is located 30 miles from the Washington, DC Beltway and 50 miles from the Richmond, VA Beltway.
JLL’s John Dettleff, Dan Coats and Jake Servinsky will handle the leasing efforts for Peterson Companies at Northern Virginia Gateway.
For more information about the Mid-Atlantic industrial market, visit https://www.us.jll.com/en/locations/mid-atlantic.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Peterson Companies
As one of the largest privately-owned real estate development companies in the DC region, Peterson Companies consistently delivers some of the area’s most successful mixed-use retail, residential and commercial destinations. Over the past 55 years, Peterson has created such exceptional landmarks as National Harbor, Downtown Silver Spring, Fair Lakes, and Fairfax Corner. With a proven ability to move quickly on opportunities to reshape and enhance local communities, the company creates vibrant residential and business districts that benefit all who live and work in our region. For more information about the Peterson Companies, please visit www.petersoncos.com.