Lingerfelt Strengthens Industrial Asset Base with New Acquisition and Lease Expansion
In a strategic move aimed at expanding its industrial portfolio, Lingerfelt has successfully acquired a 10-acre parcel of industrial land adjacent to its Ashton Creek Distribution Center located at 1611 Ashton Park Drive in Colonial Heights, Virginia. This acquisition aligns with Lingerfelt's objective to fortify its existing industrial assets while catering to the increasing demands of its clientele.
AA Transfer, a notable subsidiary of MEI Rigging & Crating, specializes in rigging, machinery moving, millwrighting, and export packaging services. With this new site, AA Transfer plans to enhance its industrial outdoor storage (IOS) capabilities, thereby positioning itself to serve its client base more effectively and capture a larger market share, particularly within the expanding data center sector.
The newly acquired land will augment AA Transfer's outdoor storage space at its 173,800-square-foot facility, a property delivered by Lingerfelt in February 2024. This expansion not only signifies growth for AA Transfer in the Richmond area but is also set to support operations throughout the greater central Virginia region.
Rob Valentine, Managing Director at Lingerfelt, stated, "This acquisition and expansion demonstrate our commitment to creative strategic growth in the industrial sector. As the demand for industrial outdoor storage continues to rise, we are excited to provide AA Transfer with the additional secured IOS they need to scale their operations in the region."
The move is part of Lingerfelt's broader strategy to identify value-add and opportunistic investments in industrial and logistics-oriented real estate. The firm aims to meet the needs of a constrained market while delivering substantial risk-adjusted returns for its investors.
Founded with a vision to transform commercial real estate investments, Lingerfelt is known for its long-standing expertise in acquiring, developing, and managing properties across the Southeast and Mid-Atlantic regions. The firm focuses on transformative solutions that benefit both investors and tenants, making it a key player in the real estate landscape.
AA Transfer, as part of MEI Rigging & Crating, operates a vast network with over 1,500 employees across 21 locations in 16 states, including Virginia. MEI is recognized for its excellence in offering specialized services such as millwrighting and mechanical installations necessary for various industrial operations.
As the demand for industrial storage solutions expands nationwide, this acquisition signifies an important step for both Lingerfelt and AA Transfer in enhancing operational efficiencies and exploring new avenues for growth. With their combined expertise, they are well-positioned to lead in the competitive industrial landscape, bringing progressive changes that cater to modern market needs. Lingerfelt's proactive approach is reflective of its commitment to addressing current demands while laying the groundwork for sustainable future growth in the industrial sector.
AA Transfer, a notable subsidiary of MEI Rigging & Crating, specializes in rigging, machinery moving, millwrighting, and export packaging services. With this new site, AA Transfer plans to enhance its industrial outdoor storage (IOS) capabilities, thereby positioning itself to serve its client base more effectively and capture a larger market share, particularly within the expanding data center sector.
The newly acquired land will augment AA Transfer's outdoor storage space at its 173,800-square-foot facility, a property delivered by Lingerfelt in February 2024. This expansion not only signifies growth for AA Transfer in the Richmond area but is also set to support operations throughout the greater central Virginia region.
Rob Valentine, Managing Director at Lingerfelt, stated, "This acquisition and expansion demonstrate our commitment to creative strategic growth in the industrial sector. As the demand for industrial outdoor storage continues to rise, we are excited to provide AA Transfer with the additional secured IOS they need to scale their operations in the region."
The move is part of Lingerfelt's broader strategy to identify value-add and opportunistic investments in industrial and logistics-oriented real estate. The firm aims to meet the needs of a constrained market while delivering substantial risk-adjusted returns for its investors.
Founded with a vision to transform commercial real estate investments, Lingerfelt is known for its long-standing expertise in acquiring, developing, and managing properties across the Southeast and Mid-Atlantic regions. The firm focuses on transformative solutions that benefit both investors and tenants, making it a key player in the real estate landscape.
AA Transfer, as part of MEI Rigging & Crating, operates a vast network with over 1,500 employees across 21 locations in 16 states, including Virginia. MEI is recognized for its excellence in offering specialized services such as millwrighting and mechanical installations necessary for various industrial operations.
As the demand for industrial storage solutions expands nationwide, this acquisition signifies an important step for both Lingerfelt and AA Transfer in enhancing operational efficiencies and exploring new avenues for growth. With their combined expertise, they are well-positioned to lead in the competitive industrial landscape, bringing progressive changes that cater to modern market needs. Lingerfelt's proactive approach is reflective of its commitment to addressing current demands while laying the groundwork for sustainable future growth in the industrial sector.
Topics General Business）
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