Lingerfelt Announces Another Full-Building Lease and 100% Occupancy at Ashton Logistics Park
Lingerfelt and Colliers have announced a full-building lease with Shepherd Electric Supply at Ashton Logistics Park in South Chesterfield, VA. The 85,750 square-foot lease in Building 2 brings the two-building, 523,407 square-foot Class-A industrial park to 100% occupancy. This milestone also marks 100% occupancy of Lingerfelt's 1.8 million-square-foot, seven-building industrial portfolio in the Ashton Creek node of Chesterfield County.
The speculative development project, delivered in Q1 2024, was initially 84% pre-leased during construction. Shepherd Electric Supply, founded in 1892 and now a subsidiary of Graybar, is the oldest wholesale electrical distributor in the Mid-Atlantic region. The lease highlights Lingerfelt's focus on delivering premier, user-ready industrial space in logistically exceptional locations.
Lingerfelt e Colliers hanno annunciato un contratto di locazione per l'intero edificio con Shepherd Electric Supply presso l'Ashton Logistics Park a South Chesterfield, VA. La locazione di 85.750 piedi quadrati nell'Edificio 2 porta l'intero parco industriale Class-A, composto da due edifici e con una superficie totale di 523.407 piedi quadrati, a 100% di occupazione. Questo traguardo segna anche il 100% di occupazione del portafoglio industriale di 1,8 milioni di piedi quadrati con sette edifici di Lingerfelt nella zona di Ashton Creek, nella contea di Chesterfield.
Il progetto di sviluppo speculativo, completato nel primo trimestre del 2024, era inizialmente pre-affittato all'84% durante la costruzione. Shepherd Electric Supply, fondata nel 1892 e ora filiale di Graybar, è il più antico distributore all'ingrosso di materiale elettrico nella regione del Mid-Atlantic. La locazione sottolinea l'attenzione di Lingerfelt nel fornire spazi industriali di alta qualità, pronti per l'uso, in posizioni eccezionalmente logistiche.
Lingerfelt y Colliers han anunciado un contrato de arrendamiento de todo el edificio con Shepherd Electric Supply en Ashton Logistics Park en South Chesterfield, VA. El arrendamiento de 85,750 pies cuadrados en el Edificio 2 lleva el parque industrial Class-A de dos edificios, con un total de 523,407 pies cuadrados, a 100% de ocupación. Este hito también marca el 100% de ocupación del portafolio industrial de Lingerfelt de 1.8 millones de pies cuadrados en siete edificios en el nodo de Ashton Creek del condado de Chesterfield.
El proyecto de desarrollo especulativo, que se entregará en el primer trimestre de 2024, estaba inicialmente pre-arrendado en un 84% durante la construcción. Shepherd Electric Supply, fundada en 1892 y ahora subsidiaria de Graybar, es el distribuidor mayorista de electricidad más antiguo en la región del Mid-Atlantic. El arrendamiento destaca el enfoque de Lingerfelt en ofrecer espacios industriales de primer nivel, listos para el uso, en ubicaciones logísticamente excepcionales.
린저펠트와 콜리어스는 VA주 사우스 체스터필드에 위치한 애스턴 물류 공원에서 셰퍼드 일렉트릭 공급 회사와 전체 건물 임대 계약을 발표했습니다. 85,750 평방피트 크기의 임대 계약은 523,407 평방피트 클래스 A 산업 공원 내 두 개 건물을 100% 점유율로 끌어올렸습니다. 이 이정표는 체스터필드 카운티의 애스턴 크리크 노드에 위치한 린저펠트의 180만 평방피트 규모의 7개 건물 산업 포트폴리오의 100% 점유율을 나타냅니다.
2024년 1분기에 완료될 예정인 이 투기적 개발 프로젝트는 건설 중에 84% 미리 임대되었습니다. 1892년에 설립되어 현재 그레이바의 자회사인 셰퍼드 일렉트릭 공급 회사는 중부 대서양 지역에서 가장 오래된 도매 전기 유통업체입니다. 이 임대 계약은 린저펠트가 물류적으로 뛰어난 위치에서 프리미엄 사용 준비 완료 산업 공간을 제공하는 데 중점을 두고 있음을 강조합니다.
Lingerfelt et Colliers ont annoncé un bail pour l'ensemble du bâtiment avec Shepherd Electric Supply au Ashton Logistics Park à South Chesterfield, VA. Le bail de 85 750 pieds carrés dans le Bâtiment 2 porte le parc industriel de classe A de deux bâtiments, d'une superficie totale de 523 407 pieds carrés, à 100% d'occupation. Ce jalon signifie également 100% d'occupation pour le portefeuille industriel de 1,8 million de pieds carrés et sept bâtiments de Lingerfelt dans le nœud d'Ashton Creek du comté de Chesterfield.
Le projet de développement spéculatif, qui sera livré au premier trimestre 2024, était initialement pré-loué à 84% pendant la construction. Shepherd Electric Supply, fondée en 1892 et maintenant une filiale de Graybar, est le plus ancien distributeur de matériel électrique en gros de la région du Mid-Atlantic. Le bail souligne l'engagement de Lingerfelt à offrir des espaces industriels de qualité supérieure, prêts à l'emploi, dans des emplacements logiquement exceptionnels.
Lingerfelt und Colliers haben einen Vollleasingvertrag für das gesamte Gebäude mit Shepherd Electric Supply im Ashton Logistics Park in South Chesterfield, VA, bekannt gegeben. Der 85.750 Quadratfuß große Mietvertrag im Gebäude 2 bringt den zweigeteilten, 523.407 Quadratfuß großen Class-A-Industriepark auf 100% Auslastung. Dieses Meilenstein zeugt auch von der 100% Auslastung von Lingerfelts 1,8 Millionen Quadratfuß großem, sieben Gebäude umfassenden Industrieportfolio im Ashton Creek Knotenpunkt im Chesterfield County.
Das spekulative Entwicklungsprojekt, das im ersten Quartal 2024 abgeschlossen werden soll, war während der Bauzeit zunächst zu 84% vorvermietet. Shepherd Electric Supply, gegründet 1892 und jetzt eine Tochtergesellschaft von Graybar, ist der älteste Großhändler für Elektrobedarf in der Region Mid-Atlantic. Der Mietvertrag hebt Lingerfelts Fokus auf die Bereitstellung erstklassiger, benutzerfertiger Industrieflächen in logistisch herausragenden Lagen hervor.
- Full-building lease signed with Shepherd Electric Supply for 85,750 square feet
- Ashton Logistics Park reaches 100% occupancy
- Lingerfelt's 1.8 million-square-foot industrial portfolio in Ashton Creek node achieves 100% occupancy
- Speculative development project delivered at 84% pre-leased, now fully occupied
- None.
Insights
The full-building lease to Shepherd Electric Supply marks a significant milestone for Lingerfelt's Ashton Logistics Park. This 85,750 square-foot deal brings the two-building, 523,407 square-foot industrial park to
What's particularly noteworthy is the speed at which the park reached full occupancy. Delivered in Q1 2024 at
Moreover, this lease contributes to Lingerfelt's broader success in the Ashton Creek node, bringing their entire 1.8 million-square-foot portfolio in the area to full occupancy. This achievement underscores the strategic location's appeal and Lingerfelt's ability to meet market demand effectively.
For investors, this news indicates strong performance in Lingerfelt's industrial portfolio, potentially leading to stable cash flows and increased property values in the near term.
Shepherd Electric Supply's expansion into this new facility signals potential growth in the electrical distribution sector. As a subsidiary of Graybar, a Fortune 500 company with over
The choice of location is crucial. Ashton Logistics Park's position in Chesterfield County's Ruffin Mill/Ashton Creek industrial node suggests it offers superior connectivity and infrastructure. For Shepherd Electric, this translates to improved supply chain efficiency, potentially reducing transportation costs and delivery times.
This expansion could lead to increased market share for Shepherd Electric in the region, possibly disrupting competitors. It may also indicate growing demand in sectors they serve, such as commercial construction and industrial facilities, which could be a positive economic indicator for these industries.
Investors should monitor how this expansion impacts Shepherd Electric's and Graybar's market position and financial performance in the coming quarters.
The rapid leasing of Ashton Logistics Park reflects a broader trend in the industrial real estate market. The
This trend aligns with the ongoing e-commerce boom and the need for efficient distribution networks. The success of Lingerfelt's speculative development suggests they've accurately gauged market demand, a positive sign for their future projects.
The long-term nature of these leases, as mentioned in the article, provides stability to Lingerfelt's portfolio. However, it's worth noting that long-term commitments might limit flexibility in adjusting to future market changes.
For investors, this news underscores the continued strength of the industrial real estate sector. It also highlights the importance of location and quality in attracting tenants, even in a competitive market. The success of this project may encourage more speculative industrial developments in similar strategic locations.
Founded in 1892, Shepherd Electric Supply is the oldest wholesale electrical distributor in the Mid-Atlantic region. American-owned, the company prides itself on exceptional customer service and the most extensive inventory in the area. Shepherd has specialized divisions to handle a diverse group of customers including commercial construction, lighting and switchgear projects, commercial facilities, facility management, industrials, OEMs, and government organizations. In July of 2023, Shepherd Electric Supply became a wholly owned subsidiary of Graybar, an American wholesale electrical, communications, and data networking products distribution business. Based in
Ashton Logistics Park is a two-building, 523,407 square-foot, Class-A industrial warehouse-distribution park situated in
John Mason, Senior Vice President of Development at Lingerfelt said, "We are excited to welcome Shepherd Electric to Lingerfelt's last remaining available space in the Ashton Creek node. The Shepherd transaction highlights why Lingerfelt is focused on delivering premier, user-ready industrial space in logistically exceptional locations. Ashton Creek's strategic location provides the connectivity and infrastructure that companies like Shepherd Electric require to enable their rapid growth and success. We are eager to support their operations as they expand their presence in the Mid-Atlantic region."
About Lingerfelt
Lingerfelt is a results-driven, vertically integrated real estate investment management firm serving the Mid-Atlantic and
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost
About Shepherd Electric Supply
Founded in 1892, Shepherd Electric Supply is the oldest wholesale electrical distributor in the Mid-Atlantic region. American-owned, the company prides itself on exceptional customer service and the most extensive inventory in the area. Shepherd has specialized divisions to handle a diverse group of customers including commercial construction, lighting and switchgear projects, commercial facilities, facility management, industrials, OEMs, and government organizations. In July of 2023, Shepherd Electric Supply became a wholly owned subsidiary of Graybar, an American wholesale electrical, communications and data networking products distribution business. Based in
For media inquiries, please contact: Rob Valentine, Principal, Lingerfelt | RValentine@Lingerfelt.co
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SOURCE Lingerfelt
FAQ
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