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News | 3 min read
NEFCO signs 163,853 sq.ft. lease to expand in Hanover County
October 1, 2024
RICHMOND, Va., Sept. 24, 2024 /PRNewswire/ — Lingerfelt is pleased to announce the recent signing of a 163,853 square-foot lease expansion with NEFCO Construction Supply, LLC (“NEFCO”) at Northlake Distribution Center – Building C, located at 11800 N Lakeridge Pkwy, Ashland, VA 23005. Jason Hetherington, Brad Lowry, Doug Tice (Richmond, VA) and Mike Puzzo (Hartford, CT) of CBRE represented NEFCO, while Matt Anderson and Harrison McVey of Range Commercial Partners represented Lingerfelt in the transaction.
NEFCO is a family owned and operated construction supply company providing a broad range of products and services to a large variety of professional contractors. With 41 locations throughout the United States, NEFCO provides localized, contractor-centric services including extensive industry expertise, large local inventories, fast dependable job site delivery, turnkey engineering services, and specialty fabrication and assembly of construction materials.
Northlake Distribution Center is a 293,187 square-foot, Class-A industrial warehouse-distribution facility located in the Lakeridge industrial node of Hanover County, with immediate access to I-95 and direct connectivity to the Greater Richmond region’s major distribution arteries. Lingerfelt acquired the building as part of a greater portfolio in March of 2023, immediately executing a capital improvement program that included full roof replacements, asphalt replacements, building painting, and LED retrofits, among other enhancements.
Ron Cipriano, Executive Vice President & COO at NEFCO said, “Since opening our 2nd Distribution Center in Ashland, VA in 2021, we have experienced tremendous organic growth in the Virginia, Maryland and North Carolina construction markets. In order to properly support our partnerships with our dedicated customer base, we were looking to double the size of our Ashland distribution center to stock a deeper and more extensive inventory of SHARP®, TOOLS+ and Safety Products. Lingerfelt provided us the perfect opportunity to grow into the adjacent spaces at the Northlake facility and we look forward to working with them for years to come.”
Rob Valentine, Principal at Lingerfelt said, “It is a pleasure to be able to expand our relationship with NEFCO at our Northlake facility as a result of the company’s impressive organic growth. We are honored to be in a position to assist NEFCO with their expansion in the Mid-Atlantic and to further extend our relationship.”
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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 NEFCO
NEFCO is a family owned and operated construction supply company providing a broad range of products and services to a large variety of professional contractors. With 41 locations throughout the United States, NEFCO provides localized, contractor-centric services including extensive industry expertise, large local inventories, fast dependable jobsite delivery, turnkey engineering services, and specialty fabrication and assembly of construction materials.
For media inquiries, please contact: Rob Valentine, Principal, Lingerfelt | [email protected]
