FOR IMMEDIATE RELEASE
Richmond, VA – May 22, 2026 – Lingerfelt today announced the successful sale of
Ashton Creek Distribution Center (“ACDC”), a 173,800 square-foot Class A industrial-
warehouse facility and adjacent 10-acre industrial outdoor storage yard (“IOS”) located
in Chesterfield County. The single-tenant net-leased asset was sold to Manulife
Investment Management.
Upon delivery by Lingerfelt in early 2024, the original ACDC facility was immediately
leased to MEI Industrial Solutions (“MEI”), a long-term occupier active in the
construction and servicing of data centers. Lingerfelt subsequently acquired,
constructed, and delivered the 10-acre IOS yard for MEI in late 2025. The asset
features 32‑foot clear heights, ESFR sprinklering, modern dock and truck court
configurations, and the adjacent IOS lay-down yard, positioning it among the
highest‑quality diversified institutional industrial offerings in the Greater Richmond
market.
“This transaction underscores our ability to partner with existing tenant‑clients to
thoughtfully address evolving operational needs,” said Brian Witthoefft, President at
Lingerfelt. “At ACDC, via an expanded relationship with MEI, we were able to efficiently
deliver a built-to‑suit IOS component that enhanced the tenant’s long‑term occupancy
and operational flexibility. The team executed quickly and collaboratively from
development through stabilization, and we are proud of the result for both our tenant
and our investors.”
Newmark’s Industrial Capital Markets team represented Lingerfelt in the sale
transaction. Lingerfelt would also like to thank Range Commercial Partners, the
project’s property management partner, as well as JLL, the project’s leasing and
marketing partner.
About Lingerfelt
Lingerfelt is a vertically integrated real estate investment management firm serving the
MidAtlantic and Southeast United States. Since the 1950s, Lingerfelt has been a trusted
name in commercial real estate and continues to build upon its reputation by sourcing
and investing in unique real estate opportunities that deliver bestinclass product for
modern users while generating attractive, riskadjusted returns for investors. Lingerfelt,
along with its partners, has successfully constructed, acquired, and managed a portfolio
of more than 25 million square feet of commercial real estate valued at over $3 billion.
To learn more, visit www.lingerfelt.co.
Media Contact
Rob Valentine
Managing Director, Investments
Lingerfelt
(804) 2700015
RValentine@Lingerfelt.co