Lingerfelt CommonWealth Partners Acquires 1.3 MSF Office Portfolio

RICHMOND, Va., June 24, 2015 /PRNewswire/ -- Lingerfelt CommonWealth Partners today announced the acquisition of a 1,319,299 square foot office portfolio in Hampton Roads, Virginia.

The portfolio, comprised of 20 office buildings and 2 office/flex buildings, is spread across six major submarkets in the Hampton Roads region including Hampton, Virginia Beach, Norfolk, and Chesapeake.

Lingerfelt CommonWealth Partners will provide leasing, property management and asset management services in-house via its vertically integrated operating platform.  Its property management affiliate, Commonwealth Commercial Partners, will handle all aspects of the day-to-day property management.  Commonwealth Commercial Partners has retained many of the existing leasing and property management personnel who currently service the properties, most of whom share a deeply rooted history with the portfolio and its valued customers.

The acquisition brings Lingerfelt CommonWealth Partners' holdings to 5.5 million square feet across the Southeastern United States, encompassing 84 office, medical office, industrial and hotel properties. 

The Hampton Roads Portfolio includes:

Greenbrier Submarket (5):  1301 Executive Boulevard, 1305 Executive Boulevard, 1309 Executive Boulevard, 1313 Executive Boulevard, and 1317 Executive Boulevard.

Battlefield Submarket (6):  500 Independence Parkway, 501 Independence Parkway, 505 Independence Parkway, 510 Independence Parkway, 676 Independence Parkway, and 700 Independence Parkway.

Lynnhaven Submarket (5):  200 Golden Oak Court, 208 Golden Oak Court, 2809 South Lynnhaven Road, 484 Viking Drive, and 629 Phoenix Drive.

Hampton Roads Center/Airport Industrial/Coliseum Center Submarkets (6):  1 Enterprise Parkway, 21 Enterprise Parkway, 22 Enterprise Parkway, 1457 Miller Store Road, 5 Manhattan Square, and 521 Butler Farm Road.

About Lingerfelt CommonWealth Partners

Lingerfelt CommonWealth Partners, headquartered in Richmond, VA, is a vertically integrated, full service real estate investment management firm with additional offices in Nashville TN, Jacksonville FL, Tampa FL, Greensboro, NC and Hampton Roads, VA. Together with its predecessor entities spanning three generations, Lingerfelt CommonWealth Partners has maintained a reputation of quality and excellence in the commercial real estate industry dating back to its founding in 1957.

During its history, both in the private sector and public REIT sector, its partners have built, acquired and managed nearly 18.5 million square feet of commercial real estate valued at approximately $2 billion including medical and professional offices, industrial, data and call centers, emergency care centers, elderly housing and nursing homes, and hospitality, all located in the eastern United States including Virginia, North Carolina, South Carolina, Maryland, Illinois, Tennessee, Georgia, and Florida.

More on the company can be found on the web at www.LingerfeltCommonWealth.com.

SOURCE Lingerfelt CommonWealth Partners