Lingerfelt JV Launches Richmond Project
This is the joint venture's second development in the market.
A joint venture between Lingerfelt and The Davis Cos. has purchased 95 acres of land in Richmond, Va., for the development of 7 Hills Distribution Center, a four-building industrial property. Construction on the multi-phase project is set to begin this summer.
The initial phase of the development will consist of site work, the extension of 7 Hills Boulevard and the construction of the project’s first building. The 267,840-square-foot Class A facility is scheduled for delivery by the fall of 2026. The joint venture will then begin construction on buildings two, three and four.
Future phases of the project will include various leasing strategies such as build-to-suit and prelease arrangements. Upon completion, the distribution center is set to encompass 820,800 square feet.
READ ALSO: New Jersey’s Industrial Sales Lead Nation
Located along the 7 Hills Blvd. extension, the future 7 Hills Distribution Center is close to the Richmond International Airport. Downtown Richmond is within 7 miles from the development site and Interstate 64 is close by.
Last September, Lingerfelt entered a 233,359 square-foot lease at Ruffin Mill Distribution Center in Colonial Heights, Va. Information management provider Vital Records Control agreed to occupy the space. The property is now completely occupied by 12 tenants.
Lingerfelt and The Davis Cos.
Previously, the partnership teamed up to develop the Carmel Church Business Center along Enterprise Parkway and Rogers Clark in Ruther Glen, Va. The location is approximately 25 miles north of Richmond, along I-95 in Caroline County.
Lingerfelt purchased the 24-acre property from CCBC Properties in April 2023 for $2.6 million. The partnership between Lingerfelt and Davis developed a 325,500-square-foot Class A warehouse at the site, which came online last year.
Richmond industrial projects
Multiple projects in the Richmond industrial market have broken ground in 2025 thus far. In addition to the partnership between Lingerfelt and Davis having expanded in the area, PNK Group began construction on PNK Ashton Park. The flex-use property will feature 846,260 square feet and will be the largest speculative industrial building in the Richmond market.
In Ashland, Va., Merritt Properties started its expansion at Crescent Business Center with a light industrial project that will add 240,000 square feet to the property. Once completed, the center will encompass more than 500,000 square feet. Merritt is working on the expansion in two phases with two new facilities. Phase one is expected to be delivered this summer, with one building being 90 percent leased to Agility and CB Floorings. Merritt purchased the property back in 2022 for $41.3 million.
You must be logged in to post a comment.