Phenix Commerce Center Unveils $111 Million Landmark Development, Fostering Job Growth & Economic Prosperity in Hampton
Phenix Commerce Center Groundbreaking
Networking at the Phenix Commerce Center Groundbreaking
Marc Gloyeske, NorthPoint Development
The event was attended by a distinguished cohort of guests, including esteemed attendees, notable speakers, and invaluable partners, whose unwavering support has been integral in making this initiative a resounding success. Notably, Mayor Donnie R. Tuck, a beacon of leadership in the community, delivered an impassioned address underscoring the transformative impact of the Phenix Commerce Center on the city's future prospects.
The significance of this milestone cannot be overstated, as the Phenix Commerce Center's unprecedented investment is set to catalyze the creation of over 450 jobs, spanning both operational and construction roles. This concerted effort will not only invigorate the local workforce but also pave the way for an influx of dynamic companies and innovative ventures, thus fortifying the economic fabric of the City of Hampton.
“On behalf of the City Council, our City Staff, and our residents of our great city, thank you, NorthPoint Development, for choosing Hampton,” said Mayor Donnie R. Tuck of Hampton, Virginia. “In developing the Phenix Commerce Center, NorthPoint Development agreed to donate space for a Workforce Training Center that will provide job-based training. That means this site will once again be a place of learning and education, as well as a place of potential employment for some of the residents of this very neighborhood.”
NorthPoint Development is allocating 6,000 square feet within Building 1 to establish a state-of-the-art Workforce Training Center. This facility, which will be fully furnished by NorthPoint Development, will be operated by the City of Hampton. This dedicated space will assist the City of Hampton in providing comprehensive training programs for the local workforce, enhancing the skills and readiness of individuals for high-demand jobs in the region.
“Our Phenix Commerce Center project represents a $111 million private capital investment in the Hampton Roads region,” said Marc Gloyeske, Vice President of Development at NorthPoint Development. “The Workforce Development Center going into Building 1 will provide meaningful workforce development training for jobs that are highly in need here in this region. We are thrilled to become a part of this region, and we can’t wait to see what this project does for this community.”
Elegran Capital has played an instrumental role in realizing the vision of this project through their strategic guidance, deal origination, and partnership. Elegran Capital has contributed significantly to the successful establishment of the Phenix Commerce Center.
“Being one of the last remaining parcels for large-scale industrial development at the nation's fastest-growing port, the Port of Virginia, Phenix's location positions itself to be a prominent hub for industrial users,” said Tom Duke and Donald Flynn, Elegran Capital. “Our partnership with NorthPoint on this project has been a two and a half year journey thus far. We couldn't be more proud of reaching this milestone, the stewardship by NorthPoint, and our equity interest in this project.”
NorthPoint Development and the Academies of Hampton partnered for the groundbreaking event. Students from the Hospitality and Tourism - Culinary Pathway prepared the food for the event, and students from the Digital Video Production, and Media Arts and Design provided the video and photography services. The collaborative efforts between NorthPoint Development and the Academies of Hampton underscore the community's dedication to nurturing the talents of its youth. By providing students with a platform to showcase their skills, NorthPoint Development and the Academies of Hampton are not only investing in the community's future but also fostering a culture of innovation and excellence.
Speakers at the event included Mayor Donnie R. Tuck of the City of Hampton, Assistant City Manager Brian DeProfio, and Marc Gloyeske, Vice President of Development at NorthPoint Development.
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About NorthPoint Development
Established in 2012, NorthPoint Development is a privately held real estate operating company specializing in developing, leasing, and managing Class A industrial and multi-family properties. We invest alongside our partners through various fund and venture structures to develop industrial and multi-family assets. We differentiate ourselves with a data-driven approach to site acquisitions and a high level of technical expertise in engineering, architecture, and construction. Through our in-house suite of services, NorthPoint can provide end-to-end expertise, leading to expedited solutions. Today, the company is part of a network of eleven companies with a logistics focus and an emphasis on a factory-to-front-door approach. We’ve developed and managed over 169.4 million square feet of industrial space. It’s estimated that our developments have created more than 110,000 jobs and supported more than 557 industrial clients across the United States. We continue to operate with an entrepreneurial spirit guided by our Core Values, enabling us to deliver exceptional results for our team members, clients, and communities.
Visit beyondthecontract.com or follow @NorthPointDev to learn more.
Communications Team
NorthPoint Development
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