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Transactions - JUNE 30, 2023

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Davis, Lingerfelt JV to develop industrial site in Greater Richmond area

by Released

The Davis Cos. and Lingerfelt have plans to develop the Carmel Church Business Center, a class A industrial project located 25 miles north of Richmond, Va., in Caroline County, Va.

Upon buildout, Carmel Church will deliver 325,500 square feet of institutional-quality, rear-load warehouse space to the region.

Proximity to key interstates and to the Port of Virginia position Richmond as a robust industrial hub with significant unmet demand for warehouse space. The Carmel Church site is situated along Interstate 95, offering convenient access to major metropolitan areas in the Mid-Atlantic and Northeast. Located just off the first interchange in Caroline County, the development will be part of a well-established industrial area with recently upgraded roads, infrastructure, and secure access to utilities.

Investment in and development of industrial space is a top priority for Davis. The firm’s growing portfolio has seen nearly 15 million square feet of industrial

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