#United States #Richmond #Lingerfelt #Port 801

Lingerfelt Announces Successful Sale of Port 801

Lingerfelt, a prominent name in commercial real estate investment, recently concluded the sale of the Port 801 industrial facility, marking a significant achievement in its investment strategy. Situated in Richmond, Virginia, this prime industrial and logistical property was sold on January 31, 2025. With this sale, Lingerfelt is reinforcing its commitment to optimizing its investment portfolio while responding to market demands.

Port 801 was originally developed by Lingerfelt in 2022 and boasts a substantial size of 239,448 square feet. Constructed by ARCO Design Build, the facility is fully leased on a long-term basis to two credit-worthy tenants, showcasing its attractiveness and reliability as an industrial space. The strategic location of Port 801, in close proximity to the Port of Virginia, positions it as a highly sought-after site for logistics and distribution operations. This advantageous positioning, coupled with its modern amenities, has drawn attention from various logistics companies looking for efficient distribution centers.

John Mason, Lingerfelt's Managing Director of Development, expressed optimism regarding the sale, stating, "This transaction represents another successful execution of our investment strategy, delivering strong returns for our investors while contributing to the continued growth of the region's industrial sector." He emphasized that the firm remains focused on pursuing new investments in the market while also considering optimal divestment opportunities when they arise.

Lingerfelt has established itself as a trusted player in the commercial real estate sector for over four decades. The firm's current focus revolves around acquiring and developing industrial properties across Virginia and the broader Southeastern region of the United States. Their commitment to identifying high-quality investment opportunities aligns with the evolving trends in the market and the interests of their investors.

Over its long history, Lingerfelt has garnered a reputation for fostering economic growth in the communities it serves. The Port 801 sale not only demonstrates the firm's investment acumen but also signifies Lingerfelt's ongoing dedication to enhancing the regional industrial landscape.

In summary, the successful sale of Port 801 marks an important milestone for Lingerfelt as it continues to balance growth and divestment in response to market dynamics. With a keen eye on future investment opportunities, the firm is poised to continue its trajectory of success in the commercial real estate sector, reinforcing its stature within the industry and contributing to the economic vitality of the areas it serves.

For more information about Lingerfelt and its future initiatives, please contact Rob Valentine, the Managing Director of Investments at Lingerfelt, via phone or email, as noted in their media contact details.