Mark Motley has expanded his Southside reach.
His Motleys Asset Disposition Group has purchased a 330,000-square-foot warehouse facility at 2700 Deepwater Terminal Road, the former headquarters of Cockrell Logistics Services.
The acquisition included both the October purchase of the 22-acre property and the facility’s book of business, the deal for which closed Jan. 4. Motley purchased the property for $2.49 million through 2700 Deepwater Terminal LLC. He declined to say what he paid for the business.
The Cockrell facility has been renamed Motley-Cockrell Logistic Services, and Motley said he was attracted to the property for the chance to provide warehouse space for his clients. It sits just down the road from Motleys’ 30,000-square-foot headquarters at 3600 Deepwater Terminal Road.
The warehouse will be used to store freight items, such as large rolls of paper, medical supplies, packaging material and automotive parts.
“We have people that are bringing in inventory that need to have it stored and then distributed,” he said. “We had a need, there was an opportunity, and then we met and looked at the property … It has been nice for our business, to have that availability of warehouse space.”
Operations transitioned smoothly from Cockrell to Motleys, Motley said. All 12 employees that previously worked for Cockrell have stayed on to work with the new owner. Cockrell President Clark Cockrell has been retained as a consultant to Motleys and continues to operate two other local warehouses on Laburnum and Gordon avenues. Cockrell had operated out of the Deepwater Terminal warehouse since 1954.
“Our goal is just to continue what the Cockrell family has done for many years,” Motley said. “Everybody we’ve talked to have been complimentary of the Cockrell family and the employees there, and we’re not looking to change anything. If anything we just want to continue the great reputation that they’ve had.”
Motley-Cockrell joins a family of companies that operate within Motleys Asset Disposition Group. They include the Richmond Auto Auction, Motleys Real Estate Auctions, Sperry Van Ness/Motleys, Fortis Foreclosure Services, Motleys Industrial Auctions and Appraisals, Motleys Equipment Sales and Motleys Estates.
Motley said renovations on the Cockrell facility have already taken place, including painting the building orange so it has a visual appeal similar to the Motleys headquarters, which opened in spring of 2014.
The fate of the company’s previous headquarters at 4402 W. Broad St. is still up in the air. That property had been slated to house a new from-scratch Pleasants Hardware location. Those plans have been canceled, as Pleasants owner C.F. Sauer is in the process of selling the hardware chain. Sauer still has a 10-year lease on the 5-acre property.