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LINGERFELT, Partners Group acquire 1.2msf class A industrial logistics and distribution portfolio in Richmond, Va.
LINGERFELT has closed on a $105.6 million acquisition of Northlake and Walthall Distribution Centers in a joint venture with Partners Group.
The portfolio includes four class A, multi-tenant logistics facilities totaling 1.2 million square feet in the Richmond, Va., MSA. The facilities are 100 percent leased to a total of 18 diversified tenants, including major, creditworthy multinational firms.
Walthall Distribution Center (1964-1984 Ruffin Mill Road, 1900-1934 Ruffin Mill Road, 1936-1962 Ruffin Mill Road) is a three-building, 868,601 square-foot logistics portfolio along Interstate 95 in the Walthall/Ruffin Mill submarket of Chesterfield County, Va.
Northlake Distribution Center (11800-11900 N Lakeridge Parkway) is a 293,115 square-foot logistics facility located along the premier I-95 North distribution corridor in Ashland, Va.
Developed between 2000 and 2003, the institutional-quality logistics facilities include cross-dock and rear-load configuratio