Chesterfield officials and PNK Group representatives at this week’s groundbreaking ceremony for the company’s 846,000-square-foot industrial building that’s rising near Chester. (Courtesy Chesterfield County)
An out-of-town developer is making a sizable debut in the Richmond market.
New York-based PNK Group has started construction on its first local project – an 846,000-square-foot industrial facility at 1640 Ashton Park Drive in Chesterfield County. The one-story building is being built on spec, and is planned to have a 45-foot ceiling, more than 100 loading docks and nearly 570 trailer spaces. PNK said the project is designed for manufacturing or distribution, and could be leased to a single user or multiple tenants.
Known as PNK Park Ashton, the facility is rising on an 86-acre site that PNK bought for $12 million in October, according to online property records.
PNK bought the land from an LLC tied to local developer George Emerson. County records refer to the site, which is southeast of Chester and near Colonial Heights, as 1653 Ashton Park Drive.
The project, which has already attracted interest from prospective tenants, would help address a need for additional industrial facilities in the area, Chesterfield Supervisor Jim Ingle said in remarks during an event Thursday to commemorate the start of the facility’s construction.
“The greater Richmond region is among the top five markets in the Southeast U.S. with the lowest vacancy in Class A industrial space,” Ingle said. “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.”
PNK Group’s industrial building is designed to handle manufacturing or distribution operations, and could be leased to a single tenant or multiple users. The project is PNK’s first in the Richmond area. (Courtesy PNK Group)
PNK announced the $80 million project late last year. The project’s price tag includes the land acquisition costs, according to a PNK spokeswoman.
The facility is being built with prefabricated components, like support columns and wall panels, manufactured in-house by PNK at its plants in Pennsylvania and Georgia. The company says the premade components will speed up and simplify construction.
“Usually, when you go to a development site, you’ll see a bunch of site work. And then you’re going to see guys coming down and a lot of trucks pouring concrete, … and they’re going to build some walls on that slab, they’re going to bring in different specialty trades. … We do all that work in our factories,” PNK partner Mark Stiles said in remarks during the event.
Townes Site Engineering is involved in the project.
Construction started on the building in the first quarter of 2025, and is expected to be completed in the late third or early fourth quarter, the PNK spokeswoman said.
With its first local project underway, PNK is on the lookout for more real estate in the region.
The company’s website states that it has 14 properties available for lease or under construction in several states, including Pennsylvania, Georgia and Texas. The company announced last month that it acquired land in Connecticut for a 218,000-square-foot industrial building.
Chesterfield officials and PNK Group representatives at this week’s groundbreaking ceremony for the company’s 846,000-square-foot industrial building that’s rising near Chester. (Courtesy Chesterfield County)
An out-of-town developer is making a sizable debut in the Richmond market.
New York-based PNK Group has started construction on its first local project – an 846,000-square-foot industrial facility at 1640 Ashton Park Drive in Chesterfield County. The one-story building is being built on spec, and is planned to have a 45-foot ceiling, more than 100 loading docks and nearly 570 trailer spaces. PNK said the project is designed for manufacturing or distribution, and could be leased to a single user or multiple tenants.
Known as PNK Park Ashton, the facility is rising on an 86-acre site that PNK bought for $12 million in October, according to online property records.
PNK bought the land from an LLC tied to local developer George Emerson. County records refer to the site, which is southeast of Chester and near Colonial Heights, as 1653 Ashton Park Drive.
The project, which has already attracted interest from prospective tenants, would help address a need for additional industrial facilities in the area, Chesterfield Supervisor Jim Ingle said in remarks during an event Thursday to commemorate the start of the facility’s construction.
“The greater Richmond region is among the top five markets in the Southeast U.S. with the lowest vacancy in Class A industrial space,” Ingle said. “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.”
PNK Group’s industrial building is designed to handle manufacturing or distribution operations, and could be leased to a single tenant or multiple users. The project is PNK’s first in the Richmond area. (Courtesy PNK Group)
PNK announced the $80 million project late last year. The project’s price tag includes the land acquisition costs, according to a PNK spokeswoman.
The facility is being built with prefabricated components, like support columns and wall panels, manufactured in-house by PNK at its plants in Pennsylvania and Georgia. The company says the premade components will speed up and simplify construction.
“Usually, when you go to a development site, you’ll see a bunch of site work. And then you’re going to see guys coming down and a lot of trucks pouring concrete, … and they’re going to build some walls on that slab, they’re going to bring in different specialty trades. … We do all that work in our factories,” PNK partner Mark Stiles said in remarks during the event.
Townes Site Engineering is involved in the project.
Construction started on the building in the first quarter of 2025, and is expected to be completed in the late third or early fourth quarter, the PNK spokeswoman said.
With its first local project underway, PNK is on the lookout for more real estate in the region.
The company’s website states that it has 14 properties available for lease or under construction in several states, including Pennsylvania, Georgia and Texas. The company announced last month that it acquired land in Connecticut for a 218,000-square-foot industrial building.
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