A joint venture between Lingerfelt and Partners Group has closed on a $105.6 million acquisition of Northlake and Walthall Distribution Centers. The portfolio includes four multi-tenant logistics facilities totaling 1,161,716 square feet in the Richmond, Virginia MSA. The facilities are 100% leased to a total of 18 tenants including multinational firms.
Northlake Distribution Center is a 293,115 square-foot logistics facility located along the I-95 North distribution corridor in Ashland, VA.
Developed between 2000 and 2003, the logistics facilities offers cross-dock and rear-load configurations, 32′ clear heights, a high ratio of dock positions, ESFR fire protection and ample auto parking spaces.
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