October 24, 2019– Furniture manufacturer IKEA Industry is moving its production back to Europe and selling its 878,000-square-foot (sf) manufacturing facility at 100 IKEA Drive in Danville, VA. Avison Young has been named the exclusive sales listing agent for the building, which is in a growing Southeast location just 50 miles north of Greensboro, NC.
Avison Young Principal Chris Skibinski, managing director in the firm’s Charlotte office, and Vice Presidents Chris Loyd and Tom Tropeano, who are also based in the company’s Charlotte office, are working in conjunction with Principal Bert Harrell, based in the Tysons, VA, office, to market the property for sale. They are working on behalf of the seller, IKEA Industry Danville LLC.
“This is a unique opportunity for a corporate owner to secure a large, one-of-a kind asset in a prime Southeast location,” Skibinski says. ”The building was designed for maximum efficiency and production and is easily adaptable to a variety of manufacturing and distribution needs.”
The facility was specifically designed for IKEA Industry’s manufacturing requirements and includes features such as 40-foot clear height ceilings, strong power capacity, and advanced lighting systems. The building is rail served, provides access to U.S. 58, and is in a state designated Enterprise Zone.
The facility opened in 2008 and produces book shelves and living room storage furniture for stores in the U.S. and Canada. The building is in the Cane Creek Centre industrial park, a 900-acre park that is owned by the City of Danville and Pittsylvania County. Operations in the IKEA Industry facility will cease as of December 2019.
The building provides connection to I-85 and I-74, and the regional distribution routes they encompass. The property also is centrally located and provides access to a strong labor pool within an hour radius.
The building is one of just a handful of this size in the region. In terms of size and improvements, there are no other available buildings in the Southeast industrial market. As the building is just 11 years old, it offers a modern interior configuration, along with advances lighting, fire protection, roofing and HVAC.