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News | 2 min read
Firm acquires 15-acre Hanover County industrial site
October 23, 2026
With one industrial project already in the works in Goochland, a North Carolina-based developer is also making moves in Hanover County.
Trinity Capital Advisors last month paid $6.2 million for a nearly 15-acre property in Northlake Business Park, where its plans a multi-tenant project with two industrial buildings, one spanning roughly 123,000 square feet and the other 108,000.
Trinity Capital partner Jordan Quinn described the buildings as being “very modern, to industrial speculative standards,” with multiple storefronts for different-sized companies. He said Trinity sees the warehouse space as being able to accommodate businesses across different industries.
“That wide array of design and meeting the functionality hopefully casts a very wide net of companies looking for space,” he said.
Quinn said Trinity Capital was interested in pursuing a project in Hanover as it is “one of the largest sub-markets in all of Richmond.”
“You have great connectivity to labor, and I-95, and other great companies that have established a presence in that part of town,” he said. “You can make your way north, you can make your way into Richmond, you can make your way out to the (Port of Virginia), so all those drivers were a big reason why we were looking so hard in this part of town.”
Per the Hanover County planning portal, a conditional use permit for the Trinity project was approved in August. At the time, the property was still owned by Lutron Electronics, a lighting and window shading control system, which has a manufacturing facility near the project site.
Lutron had previously purchased the 15-acre tract on the south line of Northlake Park Drive in 2023, but the site seemingly remained vacant. The sale to Trinity Capital closed on Sept. 26, county property records show.
The site is zoned for light industrial use and is located within the business park. The site is adjacent to RV supply store Camping World RV Parts & Accessories. The land was most recently assessed by the county at roughly $1.76 million.
Construction on the project is tentatively scheduled to begin next summer and be completed by the third quarter of 2028.
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- Topics:
- Hanover County
- Supply Chain
