InterChange Group, Inc. has purchased the former Invista Stone Fort II facility located just outside of Waynesboro. Now known as South Oak Lane Warehouse, the 322,000 square foot-facility is located on 35 acres and has a pad-ready expansion area that can expand the facility up to 530,000 square feet.
InterChange will invest an additional $750,000 in upgrades to achieve a food grade certification and add green energy enhancements.
“We quickly identified this as a hidden economic development asset right here in Augusta County,” said Devon Anders, President of InterChange. “State and private site consultants are asking for food grade facilities in excess of 100,000 square feet to compete for companies to locate or expand in Virginia.”
“We are excited to have InterChange as an economic development partner on this property,” said Larry Wills, Chairman of the Augusta County Board of Supervisors. “InterChange’s planned improvements to the property will make it extremely marketable,” Wills added. Carolyn Bragg, Augusta County Board Member who represents the South River District where the facility located also noted, “The South Oak Lane Warehouse is in a perfect location to attract business and has easy access to nearby Interstate 64.”
InterChange is a locally-owned, third party logistics (3PL) and real estate development company that owns and operates 16 industrial facilities in the Shenandoah Valley. The company is an active investor in the Shenandoah Valley Partnership and supporter of the Virginia Economic Development Partnership.
“I’m thrilled to be working with InterChange on another project in Augusta County,” said Amanda Glover, Director of Economic Development. “InterChange is very proactive and determined in its marketing strategies and has a solid network of potential customers. This partnership will translate into early results for Augusta County jobs and continued investment,” said Glover. “The Partnership is always excited about an increase in available facilities,” said Dennis Burnett, Executive Director of the Shenandoah Valley Partnership. “Having another existing building, especially with highly-demanded food-grade certification, gives the Shenandoah Valley an advantage when marketing the area,” Burnett continued.
“We are seeking one or two companies to occupy the new facility” said Terry Cunningham, InterChange’s Sales Manager. “We expect that a facility of this size in the current market will not last long.” Information on the facility and InterChange’s services can be obtained by contacting Terry Cunningham at (540) 578-2373 orterry.cunningham@
As a part of this investment, InterChange sold its 103,000 square foot facility located at 30 Packaging Drive in weyers cave to its long-term tenant, A.G. Stacker, Inc., a manufacturer of rotary die cutter stackers for the corrugated box industry. A.G. Stacker plans to use the additional space it gained from purchasing the weyers cave facility to increase its production capacity. Representatives from Augusta County’s Economic and Community Development offices assisted InterChange and A.G. Stacker in these transactions.
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