Lingerfelt Announces its Sale of Ashton Creek Distribution Center

RICHMOND, Va., May 22, 2026 /PRNewswire/ -- 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 Mid‑Atlantic 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 best‑in‑class product for modern users while generating attractive, risk‑adjusted 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) 270‑0015
[email protected]

SOURCE Lingerfelt