Lingerfelt Celebrates 100% Occupancy at Ashton Logistics Park

Lingerfelt Achieves Full Occupancy at Ashton Logistics Park

Lingerfelt and Colliers have announced an important milestone at Ashton Logistics Park. A recent lease agreement for an 85,750 square-foot full-building lease with Shepherd Electric Supply has officially filled the park to 100% occupancy. This achievement not only highlights Lingerfelt’s commitment to growth in industrial real estate but also reflects the increasing demand for warehouse space in the region.

Details of the Lease Agreement

The lease has been executed for Building 2 at Ashton Logistics Park. Shepherd Electric Supply, one of the oldest wholesale electrical distributors in the Mid-Atlantic region, signed the lease to enhance its operations and expand its footprint. Noteworthy contributors to this successful negotiation included Colliers' Wood Thornton, Rob Dirom, and Frank Hargrove, III on behalf of Lingerfelt.

About Shepherd Electric Supply

Founded in 1892, Shepherd Electric Supply is recognized for its dedication to quality customer service and boasts an extensive inventory to serve its clients effectively. The wholesaler has recently become a wholly owned subsidiary of Graybar, which is a substantial player in electrical and communications distribution. Graybar is based in Clayton, Missouri, and has reported impressive revenues exceeding $11 billion in FY 2023.

About Ashton Logistics Park

Ashton Logistics Park, comprising two buildings with a total of 523,407 square feet of Class-A industrial space, is strategically located in a growing industrial node. The project was designed and constructed by ARCO Design Build, and it was delivered with an impressive 84% occupancy, emphasizing the appeal of the area for industrial ventures. The recent lease not only underscores Lingerfelt's strategy of investing in user-ready spaces but also adds to the overall success of the Ashton Creek node.

Statements from Lingerfelt Leadership

John Mason, Senior Vice President of Development at Lingerfelt, expressed enthusiasm about welcoming Shepherd Electric to the park, stating that the transaction showcases Lingerfelt's focus on high-quality industrial real estate designed for operational efficiency. Mason emphasized the strategic advantages of Ashton Creek’s location, providing necessary infrastructure and connectivity for companies looking to thrive in the logistics sector.

About Lingerfelt

Lingerfelt is a well-established real estate investment management firm dedicated to the Mid-Atlantic and Southeast United States. Since its inception in the 1950s, the firm has built a solid reputation for identifying lucrative investment opportunities in real estate, with a growing portfolio that encompasses over 25 million square feet of commercial space valued at more than $3 billion. The company is continually striving to deliver exceptional returns for its investors and partners.

Frequently Asked Questions

What type of lease was recently executed at Ashton Logistics Park?

An 85,750 square-foot full-building lease with Shepherd Electric Supply has been executed.

Who managed the lease negotiations for Lingerfelt?

The negotiations were managed by Colliers' Wood Thornton, Rob Dirom, and Frank Hargrove, III.

How much total space does Ashton Logistics Park have?

Ashton Logistics Park has two buildings totaling 523,407 square feet.

What is significant about Shepherd Electric Supply’s recent lease?

The lease contributed to the park reaching 100% occupancy, marking a significant achievement for Lingerfelt.

What is the primary focus of Lingerfelt as a company?

Lingerfelt focuses on sourcing and investing in unique real estate opportunities that provide outsized returns for their investors.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.