Lingerfelt announced the disposition of Ashton Logistics Park (ALP), a pair of industrial assets located in Chesterfield County, Va. The portfolio was sold on May 19 to an affiliate of Equus Capital Partners for $78.2 million, or approximately $149 per square foot.
Delivered speculatively by Lingerfelt in early 2024, ALP consists of 523,407 square feet across two buildings on a 52-acre site at 1630 & 1660 Ashton Park Drive in Colonial Heights. Building 1 is a 437,657-square-foot, 36-foot-clear height, cross-docked facility, while Building 2 is an 85,750-square-foot, 32-foot-clear height, rear-load facility. Initial land closing and ground-breaking occurred in August 2022, with ARCO Design-Build as the project architect and general contractor and Townes Site Engineering handling civil engineering.
The entire Building 1 was pre-leased by Article.com, a Vancouver, British Columbia-based direct-to-consumer furniture retailer, during construction, relocating its distrib
