Morgan Stanley Investment Management Acquires $172.1 Million Virginia Facility

Morgan Stanley Investment Management announced Monday that it had acquired a newly developed Class A industrial facility in Stafford, Virginia, for $172.1 million. The 935,000-square-foot property is under a long-term net lease with J.E. Richards.

Morgan Stanley Investment Management made the acquisition through investment funds managed by Morgan Stanley Real Estate Investing. David Gross, a managing director at Morgan Stanley Real Estate Investing, said significant digital-infrastructure investment in Northern Virginia is creating opportunities for businesses and real estate that support the region’s continued expansion.