A three way partnership between Lingerfelt and The Davis Cos. has bought 95 acres of land in Richmond, Va., for the event of seven Hills Distribution Middle, a four-building industrial property. Development on the multi-phase challenge is ready to start this summer season.
The preliminary part of the event will encompass website work, the extension of seven Hills Boulevard and the development of the challenge’s first constructing. The 267,840-square-foot Class A facility is scheduled for supply by the autumn of 2026. The three way partnership will then start development on buildings two, three and 4.
Future phases of the challenge will embody varied leasing methods reminiscent of build-to-suit and prelease preparations. Upon completion, the distribution heart is ready to embody 820,800 sq. ft.
READ ALSO: New Jersey’s Industrial Gross sales Lead Nation
Situated alongside the 7 Hills Blvd. extension, the longer term 7 Hills Distribution Middle is near the Richmond Worldwide Airport. Downtown Richmond is inside 7 miles from the event website and Interstate 64 is shut by.
Final September, Lingerfelt entered a 233,359 square-foot lease at Ruffin Mill Distribution Middle in Colonial Heights, Va. Info administration supplier Very important Information Management agreed to occupy the area. The property is now utterly occupied by 12 tenants.
Lingerfelt and The Davis Cos.
Beforehand, the partnership teamed as much as develop the Carmel Church Enterprise Middle alongside Enterprise Parkway and Rogers Clark in Ruther Glen, Va. The placement is roughly 25 miles north of Richmond, alongside I-95 in Caroline County.
Lingerfelt bought 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 on the website, which got here on-line final 12 months.
Richmond industrial tasks
A number of tasks within the Richmond industrial market have damaged floor in 2025 to date. Along with the partnership between Lingerfelt and Davis having expanded within the space, PNK Group started development on PNK Ashton Park. The flex-use property will function 846,260 sq. ft and would be the largest speculative industrial constructing within the Richmond market.
In Ashland, Va., Merritt Properties began its enlargement at Crescent Enterprise Middle with a light-weight industrial challenge that may add 240,000 sq. ft to the property. As soon as accomplished, the middle will embody greater than 500,000 sq. ft. Merritt is engaged on the enlargement in two phases with two new services. Part one is predicted to be delivered this summer season, with one constructing being 90 p.c leased to Agility and CB Floorings. Merritt bought the property again in 2022 for $41.3 million.
