RICHMOND, Va., Sept. 16,
2024 /PRNewswire/ -- Lingerfelt and Colliers are
pleased to announce the execution of an 85,750 square-foot,
full-building lease with Shepherd Electric Supply in Building 2 at
Ashton Logistics Park, located at 1630 Ashton Park Drive,
South Chesterfield, VA 23834.
Colliers' Wood Thornton, Rob Dirom,
and Frank Hargrove, III handled
lease negotiations on behalf of Lingerfelt.
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 Clayton, Missouri, the employee-owned
corporation is included on the Fortune 500 list of the largest US
corporations, with over $11 billion
in revenue (FY 2023).
Ashton Logistics Park is a two-building, 523,407 square-foot,
Class-A industrial warehouse-distribution park situated in
Chesterfield County's Ruffin
Mill/Ashton Creek industrial node. The speculative development
project, designed and constructed by ARCO Design Build, was
delivered in Q1 of 2024 at 84% occupancy, with Building 1 (437,657
SF) entirely pre-leased during its construction. The Shepherd
Electric lease brings the two-building Ashton Logistics Park to
100% occupancy on a long-term basis and marks the notable milestone
of 100% occupancy of Lingerfelt's 1.8 million-square-foot,
seven-building industrial portfolio in the Ashton Creek node of
Chesterfield County alone.
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
Southeast United States. Since the
1950's, Lingerfelt has been a dependable name in real estate and
continues to build upon a stellar reputation by sourcing and
investing in unique real estate opportunities that provide outsized
returns for investors and partners. Lingerfelt, along with its
partners, has successfully constructed, acquired, and managed a
portfolio of over 25 million square feet of commercial real estate
valued at over $3 billion and growing
each day. To learn more, visit www.lingerfelt.co.
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 20% for shareholders.
With annualized revenues of $3.0
billion ($3.3 billion
including affiliates) and $40 billion
of assets under management, we maximize the potential of property
and accelerate the success of our clients and our people. Learn
more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
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 Clayton,
Missouri, the employee-owned corporation is included on the
Fortune 500 list of the largest US corporations, with over
$11 billion in revenue (FY 2023).
For media inquiries, please contact: Rob
Valentine, Principal, Lingerfelt |
RValentine@Lingerfelt.co
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SOURCE Lingerfelt