News
News | 2 min read
Construction underway on final building at Northlake II in Hanover County
July 7, 2026
Matan Companies has pulled building permits for Building D at Northlake II, clearing the way for final construction to begin on the 203,000-square-foot facility in Ashland. The building, fully leased to DPR Construction, marks the completion of the four-building, 548,000-square-foot industrial park along the I-95 corridor in Hanover County.
Matan broke ground on Northlake II in 2021, and phase I (buildings A, B and C), totaling 345,000 square feet, delivered in early 2024 to tenants including Ferguson Enterprises, Chadwell Supply, Envoy Solutions and Haskell Hardware. Read more about that milestone in our earlier coverage of the Northlake II groundbreaking.
Construction on Building D started in summer 2025, with completion targeted for late spring 2026. The building is fully leased to DPR Construction, a top tier general contractor that will use the space to expand its presence on the East Coast.
JP Matan, principal at Matan Companies, said the full lease up of Northlake II reflects the strength of the Richmond region’s industrial market and the company’s commitment to developing space for forward thinking tenants. Matan Companies also announced plans to start Northlake III this spring, a single 210,000-square-foot building with ample trailer parking and industrial outdoor storage.
With low vacancy rates and absorption continuing to outpace new supply, Northlake II’s progress underscores the continued demand for Class A industrial space in Greater Richmond.
- Topics:
- Chesterfield County
- Other
