FREDERICKSBURG, Va. — An investment fund managed by Morgan Stanley Real Estate Investing has bought Capitol 95, a newly built 934,523-square-foot logistics facility at 211 Centreport Parkway, for $172.1 million, JLL announced Oct. 27. JLL Capital Markets represented the seller, developer Flint Development, which completed the cross-dock building in 2026 on approximately 120 acres near Interstate 95.
The property is 100% leased to J.E. Richards, a critical power systems contractor serving the data center industry, with more than 10 years remaining on the lease. It has a 40-foot clear height and 158 dock doors. In the release, Flint founder Devin Schuster said more than 500 jobs are expected at the facility. The release does not say whether those jobs are new, and it describes no new spending by the tenant.
ON THE RADAR: DEAL
Buyer: Investment fund managed by Morgan Stanley Real Estate Investing
Tenant: J.E. Richards (100% leased; more than 10 years remaining)
Seller: Flint Development
Property: Capitol 95, 211 Centreport Parkway, Fredericksburg, Va.; 934,523 sq ft on approximately 120 acres
Price: $172.1 million
Broker: JLL Capital Markets (seller)
Type: Property sale (leased industrial)
Announced: Oct. 27, 2026