Matan Hires JLL to Oversee Leasing and Marketing at Port 460

HAMPTON ROADS, VA - December 5, 2022 - JLL announces today it has been retained by Matan Companies to manage the leasing and marketing efforts at Port 460 Logistics Center at 2925 Pruden Boulevard in Suffolk, Virginia. Once completed, Port 460 will be a 540-acre, five million square foot Class A master planned development project. Site planning is underway and initial building deliveries are expected to occur in 2024.

“We have been incredibly impressed by the broad reach of the entire team at JLL on similar projects throughout the Mid-Atlantic,” remarked JP Matan, Director of Leasing, Matan Companies. “For a project of this magnitude, we needed a team with local expertise and a national reach and are excited to deepen our partnership here.”

Plans for the development include nine varying sites with a mix of buildings ranging in size from approximately 250,000 to over one million square feet. In addition, these will include truck terminal buildings.

“Port 460 Logistics Center is situated at the critical junction of U.S. Route 58 originating at the Port of Virginia and connecting with US 460 which is an increasingly strategic commercial corridor for transportation to the rest of the country,” stated Gregg Christoffersen, Senior Vice President, JLL.

“Additionally, the Hampton Roads region is experiencing expansive and robust growth from our entire industrial base. There is long-term structural need in the market for a project like Port 460 to provide modern logistics and distribution facility solutions in the market. We are working through a continuous and uninterrupted interest and inquiry from logistics companies throughout the country, many of whom are moving from more congested and expensive markets. The growth of the Port of Virginia has only continued to increase this demand for industrial lease options in Hampton Roads as more international and national business is drawn to the Commonwealth of Virginia.”

In addition to Christoffersen, JLL’s Todd Hughes and Kris Kennedy will represent the project. For more information about JLL’s industrial leasing services, visit https://www.us.jll.com/en/locations/mid-atlantic.

Matan Companies, headquartered in the Washington, D.C. suburbs, is one of the region’s premier commercial real estate services and development firms. Founded over 40 years ago on the principle of providing a comprehensive, full-service approach, the firm’s current portfolio consists of over 6.5 million square feet of office/industrial assets, 4 million square feet in the development pipeline, several active residential developments, and a separate portfolio of multifamily units. The company delivers a full range of services to their real estate investors and tenants including asset and property management, leasing, and tenant services. For additional information about the Matan Companies, please visit http://www.mataninc.com.