Lingerfelt, a vertically integrated real estate investment management firm, and Partners Group, a firm in the global private markets industry, announced the sale of their 1.16 million-square-foot WalthallNorthlake Industrial Portfolio. The portfolio was sold to an undisclosed buyer for $175 million, or approximately $151 per square foot.
Located in the Richmond, Va. metropolitan area, the WalthallNorthlake Industrial Portfolio is a fully leased, class A industrial warehouse and distribution portfolio consisting of four institutional-quality industrial buildings. This includes three buildings within Walthall Distribution Center in South Chesterfield, Va., and one building within Northlake Distribution Center in Ashland, Va.
Lingerfelt and Partners Group acquired the portfolio in March 2023 for $105.6 million through a joint venture with Partners Group as the majority investor. The venture then successfully executed a comprehensive value-add business plan focused on curi
