Lingerfelt, Partners Group Purchase 1.2M SF Industrial Portfolio in Metro Richmond for $105.6M

by John Nelson

COLONIAL HEIGHTS AND ASHLAND, VA. — A joint venture between Lingerfelt and Partners Group has purchased a nearly 1.2 million-square-foot industrial portfolio in metro Richmond for $105.6 million. The seller was not disclosed. The portfolio includes Walthall Distribution Center, a three-building property in Colonial Heights spanning 868,601 square feet, and Northlake Distribution Center, a 293,115-square-foot facility in Ashland. Developed between 2000 and 2003, the facilities include cross-dock and rear-load configurations, 32-foot clear heights, a high ratio of dock positions, ESFR fire protection and ample auto parking spaces. The portfolio was fully leased at the time of sale to 18 separate tenants. Matt Anderson and Harrison McVey of Colliers will handle the marketing and leasing of the portfolio on behalf of the new ownership. Colliers will also provide property and facility management services for the properties and tenants.

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