CBRE|Hampton Roads announced the sale of adjoining properties in Chesapeake, Va., to Luck Stone Corp. and Allan Myers Corp. The seller, Higgerson-Buchanan, recently closed its business at 5300 Bainbridge Blvd. after 60 years of operation.
The sale was reported by Virginia Business magazine.
Luck Stone acquired 32.86 acres of industrial land with access to the N&P Beltline Railroad for $2.45 million. According to CBRE, the company plans to operate a distribution facility at the site.
Allan Myers purchased 28.85 acres of land that includes a small office building, upgraded wharf on the Elizabeth River and other improvements, for $5.1 million. Allan Myers will operate an asphalt plant on the site.