ASHLAND, Va.–(BUSINESS WIRE)–Commercial real estate developer Delta Citation has commenced construction on a new ±43,000 square foot ground-up, design-build industrial warehouse at Hanover Air Park in Ashland, Virginia. The facility is 100% pre-leased to a single dedicated user, highlighting continued demand for high-quality industrial space in Hanover County and the broader Central Virginia market.
The Richmond-area industrial market remains one of the tightest along the East Coast. According to recent market data from Cushman & Wakefield, industrial vacancy in the Richmond market closed 2025 at historically low levels — under 4% — even as modest new supply has come online. Leasing activity across the region produced significant positive net absorption, with hundreds of thousands of square feet absorbed throughout 2025, reflecting strong tenant demand for modern industrial space.
Situated just off Interstate 95, Hanover Air Park offers immediate access to key distribution routes serving Richmond, Northern Virginia, and the Mid-Atlantic. The strong fundamentals in the industrial sector, fueled by logistics, manufacturing, and distribution requirements, continue to support investment and development activity throughout the market.
The new facility is designed to meet the evolving operational needs of today’s users and features:
- A flexible layout combining modern office space with expansive warehouse operations under one roof
- A five-bay loading dock to support high-volume shipping and receiving
- A fully integrated backup generator system ensuring operational continuity
- Industrial-sized high-volume fans to enhance airflow, occupant comfort, and energy efficiency
Haley Builders, Inc., of Ashland, Virginia, has been selected as the project’s general contractor. With more than 30 years in business, Haley Builders is a highly regarded regional contractor with extensive experience delivering industrial, commercial, and public sector projects for federal, state, and local clients.
“This groundbreaking reflects robust tenant demand and the strength of the industrial real estate market across Central Virginia,” said Tony Hepler, Strategy Director at Delta Citation. “Securing full pre-leasing prior to construction demonstrates the continued appetite for well-located, high-functioning industrial space along the I-95 corridor.”
The project reinforces Delta Citation’s ongoing commitment to delivering strategic industrial development and contributes to the fulfillment of regional demand for modern logistics and distribution facilities.
Construction is now underway.
About Delta Citation
Delta Citation is a commercial real estate development firm focused on industrial, medical, and commercial properties throughout the Mid-Atlantic. The firm specializes in strategic site selection, design-build execution, and long-term value creation for institutional and private users.
About Haley Builders, Inc.
Headquartered in Ashland, Virginia, Haley Builders, Inc. is a leading regional general contractor with more than 30 years of experience. The firm serves industrial, commercial, and public sector clients — including federal, state, and local agencies — and is known for reliable delivery, quality craftsmanship, and long-standing client relationships.
Contacts
Media Contact:
Judy Smith
Corporate Communications
[email protected]
www.citationdelta.com
