InterChange Group, Inc. Announces New Portsmouth, Virginia Location

October 8, 2015


Contact: Devon C. Anders
President, Interchange
(540) 433-1900

Contact: Dana Woodson
Public Affairs Officer, The City of Portsmouth
(757) 393-5143

Portsmouth, VA – InterChange Group, Inc., a third-party logistics (3PL) provider based in
Harrisonburg, and the City of Portsmouth are pleased to announce InterChange’s purchase of
12.5 acres at 2175 Elmhurst Lane. InterChange will demolish the former Gwaltney plant this
fall. Phase I construction will commence in spring 2016 and include 100,000 SF of a total
planned site of 200,000 square feet development. Completion of Phase I is expected by the end
of 2016. InterChange will employ materials handlers, truck drivers and office personnel. The
project represents $5 million in new private investment in the City of Portsmouth.

InterChange owns and operates over 1.6 million square feet of industrial facilities including
Front Royal, Harrisonburg, Waynesboro and Winchester. “This development is a significant
step in our expansion in the Commonwealth,” said Devon C. Anders, President of InterChange
Group, Inc. “Specifically, this redevelopment site lies within the “beltway” for efficient access
for our customers to and from all three of the ocean terminals.”

“InterChange’s investment and new facility represent potential for strategic growth for the
company and the city,” said the Honorable Kenneth I. Wright, Mayor of Portsmouth.
“InterChange and Portsmouth will both benefit. InterChange will increase its global
competitiveness by being in close proximity to the Port of Virginia. The city welcomes this new
business, new jobs, and new tax revenue to the new Portsmouth.”

InterChange has been doing business with the Port of Virginia, and in particular at the Virginia
Inland Port Terminal in Front Royal for years. “The Port of Virginia’s cargo volumes are
continuing to grow, and InterChange’s decision to develop a warehousing operation in
Portsmouth helps to expand the logistics infrastructure the port needs to help sustain its growth,”
said John F. Reinhart, CEO and executive director of the Virginia Port Authority. “The benefits
of this investment can also be counted in terms of jobs, building the city’s tax base and driving
the economy of Virginia; it is good to know that InterChange is expanding in the

Portsmouth, Virginia (population: 96,205) is an incorporated city in the center of the Hampton
Roads metropolitan statistical area of 1.8 million residents. The City’s targeted industries
include: maritime and port related firms, minority-, women-, and veteran-owned businesses;
multifamily residential developers; retailers; and craft breweries. Portsmouth offers 90 miles of
shoreline and 360 degrees of opportunity.