Lingerfelt Successfully Sells Ashton Creek Distribution Center to New Owner

Lingerfelt's Sale of Ashton Creek Distribution Center

In a notable transaction within the industrial real estate market, Lingerfelt has successfully completed the sale of the Ashton Creek Distribution Center (ACDC), a prime 173,800 square-foot Class A industrial warehouse located in Chesterfield County, Virginia. The facility was sold to Manulife Investment Management, solidifying Lingerfelt's reputation as a significant player in the real estate sector.

This facility, completed in early 2024, quickly found its first tenant in MEI Industrial Solutions (MEI), a company known for its engagement in the construction and servicing of data centers. The strategic vision of Lingerfelt was further realized with the construction of a complementary 10-acre industrial outdoor storage yard (IOS) that was delivered to MEI in late 2025, enhancing operational capabilities for the tenant.

Lingerfelt's ACDC facility boasts impressive features, including 32-foot clear heights, ESFR sprinkler systems, modern dock layouts, and truck court configurations. These enhancements ensure that ACDC stands out as one of the highest-quality industrial offerings in the Greater Richmond market, catering to the evolving needs of modern industrial operations.

Brian Witthoefft, President at Lingerfelt, expressed his satisfaction with the sale, stating, "This transaction underscores our ability to partner with existing tenant-clients to thoughtfully address evolving operational needs." He praised the collaboration with MEI, highlighting how their expanded relationship allowed for a tailored IOS component, ultimately boosting tenant satisfaction and long-term operational flexibility. The efficient execution of this project, from development to stabilization, reflects Lingerfelt's commitment to quality and client-focused service.

The sale was facilitated by Newmark's Industrial Capital Markets team, who represented Lingerfelt throughout the transaction. Lingerfelt also acknowledged the support from Range Commercial Partners, their property management partner, and JLL, who played a pivotal role in leasing and marketing the project.

Lingerfelt has established itself as a well-respected name in the commercial real estate investment management sector since the 1950s, primarily serving the Mid-Atlantic and Southeast United States. The firm's focus remains on sourcing and investing in high-quality real estate opportunities, ensuring they deliver top-tier products to modern users. To date, Lingerfelt, along with its partners, has managed a substantial portfolio exceeding 25 million square feet of commercial real estate valued at over $3 billion.

Through strategic initiatives like the Ashton Creek Distribution Center, Lingerfelt continues to enhance its investment portfolio and solidify its status in the commercial real estate landscape. For further information about Lingerfelt and their ongoing projects, please visit www.lingerfelt.co.