Winchester just landed a $31 million industrial upgrade, as KLNB announced it has wrapped a 160,000-square-foot build-to-suit facility for sheet-metal manufacturer ZM Sheet Metal at Stonewall Industrial Park. The new building, completed on time and under budget, anchors ZM's presence in the park and, according to KLNB, secures the company’s footprint in the Shenandoah Valley for the next 20 years. Scott Rabin, KLNB’s senior vice president of advisory services, led the deal on behalf of the buyer-tenant.
KLNB detailed the handoff and completion in a company release. According to ConnectCRE, the project at 554 McGhee Road came in with a total project cost of about $31 million, a figure KLNB said covers the land acquisition, building construction and soft costs. The outlet reports that ZM is both the buyer and tenant of the 160,000-square-foot build-to-suit and that KLNB negotiated the development agreement and recommended a project manager who helped keep the work on schedule and under budget.
“This was a complex, multi-year puzzle that required us to be both aggressive and creative,” Rabin told ConnectCRE, adding that the outcome “secures ZM's footprint in Winchester for the next twenty years.” Rabin represented the buyer and tenant in the transaction and said the team created an off-market opportunity to deliver the facility on time.
How The Deal Came Together
The project did not just materialize out of thin air. Developer Becknell Industrial, which broke ground on the Stonewall site in February 2025, built the facility after Colliers helped facilitate the build-to-suit arrangement, according to a news release from Colliers. The firm says it sourced the land and introduced the site to ZM through KLNB. Earlier coverage from KLNB confirms the company represented ZM in acquiring the 23-acre parcel that set the project in motion.
Jobs And Regional Impact
The Stonewall facility is being framed as a capacity play for the Shenandoah Valley. Virginia Business reported the new plant can accommodate up to 300 workers and will become ZM's main manufacturing site. ZM's corporate website lists its current Winchester plant at 260 Lenoir Drive and notes roughly 100 employees there, which suggests the new building could substantially increase local headcount as operations move over.
The completed project also adds to the drumbeat of industrial activity along the I-81 corridor, where developers point to strong logistics access for distribution across multiple states. Regional outlets have highlighted the site's access to major shipping routes as a key reason ZM chose Stonewall Industrial Park.
