{"id":1004727517,"date":"2024-09-03T02:28:17","date_gmt":"2024-09-03T10:28:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004727517"},"modified":"2024-09-03T02:28:20","modified_gmt":"2024-09-03T10:28:20","slug":"lingerfelt-inks-233-ksf-lease-near-richmond","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lingerfelt-inks-233-ksf-lease-near-richmond\/","title":{"rendered":"Lingerfelt Inks 233 KSF Lease Near Richmond"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Walthall-Distribution-Center.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004727519\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/lingerfelt-inks-233-ksf-lease-near-richmond\/walthall-distribution-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Walthall-Distribution-Center.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Walthall Distribution Center\" data-image-description=\"&lt;p&gt;Exterior shot of Walthall Distribution Center in Colonial Heights, Va.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The three-building Ruffin Mill Distribution Center recently went through a capital improvement program. Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Walthall-Distribution-Center.jpg?w=1000\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Walthall-Distribution-Center.jpg\" alt=\"Exterior shot of Walthall Distribution Center in Colonial Heights, Va.\" class=\"wp-image-1004727519\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Walthall-Distribution-Center.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Walthall-Distribution-Center.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Walthall-Distribution-Center.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption class=\"wp-element-caption\">The three-building Ruffin Mill Distribution Center recently went through a capital improvement program.<em> Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Lingerfelt has inked a 233,359-square-foot industrial lease at its 868,801-square-foot Ruffin Mill Distribution Center in Colonial Heights, Va. Information management provider Vital Records Control will occupy space in buildings A and C.<\/p>\n\n\n\n<p>Range Commercial Partners represented Lingerfelt in the transaction. The three-building campus is now fully occupied by 12 tenants, including Snyder&#8217;s-Lance, Metagenics and Lindenmeyr Munroe, CommercialEdge information shows.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/lingerfelt-partners-group-buy-106m-industrial-portfolio\/\">Lingerfelt acquired the industrial park<\/a> from Kimco Realty in a $105.6 million portfolio transaction in March last year, using funds from several notes originated by Global Atlantic Financial Group, according to the same source. Immediately after, the company implemented a capital improvement program that consisted of LED retrofits, full roof replacements and several other enhancements.<\/p>\n\n\n\n<p>The 295,936-square-foot Building A came online in 1999 and features 10 drive-in doors and 56 dock-high loading doors. The 16.5-acre property is at 1980 Ruffin Mill Road, close to Interstate 95 and within 19 miles of downtown Richmond.<\/p>\n\n\n\n<p>The other two facilities have 14 drive-in doors and 135 dock-high doors together. Totaling about 37 acres, these properties are at 1934 and 1936 Ruffin Mill Road.<\/p>\n\n\n\n<p>Range Commercial Partners Executive Vice President Matt Anderson and Vice President Harrison McVey brokered the deal on behalf of Lingerfelt.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-richmond-s-industrial-sector-experiences-slowdown\">Richmond\u2019s industrial sector experiences slowdown<\/h2>\n\n\n\n<p>Richmond&#8217;s industrial market had a 452,000-square-foot decrease in net absorption in the second quarter of this year, according to a Cushman &amp; Wakefield report. The metro\u2019s vacancy rate during the same period clocked in at 4.2 percent, 210 basis points higher year-over-year.<\/p>\n\n\n\n<p>US Cabinet Depot signed a 194,400-square-foot lease at North Richmond Industrial Park, which was one of the largest such deals of the second quarter, the same source shows. MacKenzie Commercial Real Estate owns the 315,900-square-foot facility, CommercialEdge shows.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The deal brings the industrial campus to 100 percent occupancy.<\/p>\n","protected":false},"author":3355,"featured_media":1004727519,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21748,11,21742,36153],"tags":[43475],"class_list":["post-1004727517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-industrial","category-midatlantic","category-latest","category-richmond-hampton-roads","tag-lingerfelt-commonwealth-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lingerfelt Inks 233 KSF Lease Near Richmond - 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