VIRGINIA BEACH, Va., August 2, 2023 – Oceana Development, LLC is pleased to announce that Power Train Industries, Inc. (“PTI”) has leased a 101,000 square foot industrial building located at 464 Progress Lane, Virginia Beach, in the Oceana East Industrial Park. PTI provides driveline solutions to the automotive aftermarket and is a subsidiary of Dorman Products, Inc., which is publicly traded on the Nasdaq stock market. The Miller Group is the developer of the 10-acre parcel and industrial park. John Lee of John Lee & Associates represented PTI as its broker.
PTI has operated a 22,000 square foot manufacturing facility in Virginia Beach since 2012. Its growth prompted them to pursue a facility to foster that growth and they looked locally and out of state. The property, known as Bosky Quay, was being built as a speculative industrial facility. “It was fortunate that we connected with The Miller Group at the right time. We were able to have an impact on the footprint before the project was too advanced,” said Shiva Menon, Driveline SBU Director for Dorman. The building has a 28’ clear height, 7 loading docks, over 6,000 square feet of office space and 233 parking spaces. PTI is expected to take possession of the property on or around January 2024.
The property is located one mile south of Interstate 264 off London Bridge Road in Virginia Beach. PTI will be neighbors with companies like IMS Gear, Sanjo and Amazon. “We are excited to add another growing manufacturer to our park. Shiva Menon and his team have been a pleasure to work with. John Lee was instrumental in closing the deal given his prior work with PTI and his knowledge of the development process,” said Tim Harkins, President of The Miller Group.
About The Miller Group
The Miller Group is a full service commercial real estate development company based in Virginia. The company specializes in industrial, office and build to suit projects. For over two decades, the company has acquired over 600 acres with over 254 acres in active development. The Miller Group brings its full range of expertise to generate added value for their clients.
About Dorman Products
Dorman gives professionals, enthusiasts and owners greater freedom to fix motor vehicles. For over 100 years, we have been driving new solutions, releasing tens of thousands of aftermarket replacement products engineered to save time and money and increase convenience and reliability. Founded and headquartered in the United States, we are a pioneering global organization offering an always-evolving catalog of products, covering cars, trucks and specialty vehicles, from chassis to body, from underhood to undercarriage, and from hardware to complex electronics.
For More Information:
The Miller Group Contact
Dorman Investor Relations Contact
Michael P. Dickerson
Vice President, Investor Relations and Risk Management