1537 Air Rail
Realized 1537 Air Rail is a 320,000 square-foot tilt-up concrete industrial building acquired vacant on December 26, 2018. The project area is bound by Lake Whitehurst to the north, a rail line to the west, and commercial developments to the south and east. The entire building was leased to a single tenant during its renovation.
Investment Info
- Status: Realized
- Market: Hampton Roads, VA
- Property Type:
Industrial - Square Footage: 320,000
- Lingerfelt Role: Sole-Owner
- Strategy: Acquisition
- Sub-Strategy: Reposition, Lease-Up
Investment Metrics
- Entry Date: December 26, 2018
- Purchase Price: $8,000,000
- Total Capitalization: $17,500,000
- Exit Date: November 12, 2020
- Exit Price: $21,700,000
- Hold Period: 1.9 Years
