Investment Summary

Carmel Church Business Center is a 325,500 square-foot ground-up speculative industrial development that broke ground in May of 2023 and delivered in April of 2024. As of September of 2025, the property was 100% occupied by a full-building tenant. Lingerfelt sold the property in December of 2025.

Investment Info

Status: Realized
Sub-Market: Caroline County
Property Type: Industrial
Square-Footage: 325,500
Strategy: Development
Sub-Strategy: Speculative
Entry Date: Feb 01, 2023
Exit Date: Dec 17, 2025
Total Capitalization: $34,750,000
Exit Price: $48,500,000
Lingerfelt Role: Developer, General Partner

Location

Project Team

Developer

John Mason Managing Director, Development


General Contractor
Civil Engineer