PNK Group Breaks Ground on New Facility in Virginia

Industrial developer PNK Group will construct an 846,000-square-foot facility in the Greater Richmond area.

COLONIAL HEIGHTS, Va., April 23, 2025 /PRNewswire/ -- On April 17, PNK Group held a groundbreaking ceremony for its new development, PNK Ashton Park, located in Chesterfield County, Virginia. The new multi-functional facility will span 846,000 square feet on a site covering 86.6 acres. It is designed for flexible use by either a single tenant or multiple occupants.

According to PNK Group Partner Mark Stiles, the region holds strategic importance for the company, while the project itself is of great interest to local authorities. This is reflected in the participation of Chesterfield County leadership and the Chesterfield Economic Development Office at the event.

"The Greater Richmond region is among the top five markets in the Southeast U.S. with the lowest vacancy in Class A industrial space," said Jim Ingle, Chair of the Chesterfield County Board of Supervisors and Bermuda District Supervisor. "I understand from our economic development team that there have been several visits by prospects to the site, so I know the building will be leased in no time."

The region's strong position within the state is further reinforced by the presence of major national tenants such as FedEx, Lego, Sabra, and Church & Dwight, along with prominent local companies like Shepherd Electric and A&A Transfer. Demand continues to grow, while available land for new development remains limited.

PNK Group employs proprietary construction technology that significantly streamlines the building process compared to traditional methods. Utilizing standardized large-block components produced at the company's manufacturing facilities in Georgia and Pennsylvania, PNK can deliver buildings faster and more efficiently than market averages. This modular method also reduces the need for a large onsite workforce and heavy equipment.

PNK Group's facilities are highly versatile and suitable for a variety of uses — from manufacturing to storage and distribution. With ceiling heights of up to 45 feet and reinforced concrete structures, the buildings are engineered to support heavy equipment and cranes with capacities of up to 8 tons, enabling tenants to operate across a broad range of industrial applications.

Contact Info:
Name: Mark Stiles
Phone: +1 (646) 517 7915
Website: https://pnk.group
Organization: PNK Group
Address: 17 State Street, Suite 3930, New York, NY 10004
Email: [email protected]

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SOURCE PNK Group