Hampton Roads Association for Commercial Real Estate Deal of the Year – Industrial Lease – Gold Winner
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.
The Miller Group, designed and built the new Virginia Beach headquarters and leased it to IMS: GEAR.
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.