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PRINCE GEORGE, VA. — Lingerfelt has formed a joint venture with SCOA Real Estate Partners, a wholly owned subsidiary of Sumitomo Corp., for the development of a 347,760-square-foot industrial facility in Prince George. Situated at the confluence of I-295, I-95 and Route 460 on Richmond’s south side, the development is dubbed TriPoint Distribution Center.
The project broke ground last September and is set for completion this August. The joint venture has selected CBRE to lease and market the development, which ARCO is constructing on behalf of ownership.