2012 HRACRE Gold Winner for Commercial Real Estate Deal of the Year - Industrial Lease

To support the growing demand for gear assemblies from automotive suppliers throughout North America, IMS: GEAR Virginia relocated from a 34,000 square-foot facility to a new 112,000 square-foot facility in Virginia Beach VA.  The move into the new building was part of the German company’s 35.5 million dollar expansion of its manufacturing operations in Hampton Roads. Since taking occupancy IMS has engaged Miller Group to expand office and operational capabilities.

The building is fully climatized with five depressed and one grade level loading docks, 24’ clear height, fire protection system, 5000 amp electrical service, 150 parking spaces, a rain water harvesting system and located on seven acres of Oceana East Industrial Park.

Several relocation options were evaluated, including renovation of older, existing spaces but in the end, the build-to-suit was a win-win for both IMS: GEAR and The Miller Group.