Lingerfelt Celebrates Full Occupancy at Ashton Logistics Park
Lingerfelt Celebrates Full Occupancy at Ashton Logistics Park
Lingerfelt and Colliers are thrilled to announce a significant achievement with the execution of an 85,750 square-foot full-building lease with Shepherd Electric Supply at Ashton Logistics Park. Located at 1630 Ashton Park Drive, this strategic leasing marks a crucial step in enhancing the logistics capabilities in the area.
About Shepherd Electric Supply
Shepherd Electric Supply, a company established in 1892, is known as the oldest wholesale electrical distributor in the Mid-Atlantic region. Based in Clayton, Missouri, this American-owned company has built a reputation for outstanding customer service and boasts the most extensive inventory in the region. It serves a wide array of clients, including commercial construction, lighting and switchgear projects, government organizations, and various industrial sectors.
Details of Ashton Logistics Park
Ashton Logistics Park consists of two buildings totaling 523,407 square feet, designed specifically for industrial warehousing and distribution. The project, managed by ARCO Design Build, was delivered in the first quarter of the year with an impressive initial occupancy rate of 84%. With Shepherd Electric's recent lease, both buildings are now fully occupied on a long-term basis.
Significance of Full Occupancy
This landmark deal not only signifies 100% occupancy for Ashton Logistics Park but also highlights Lingerfelt's successful management of a 1.8 million-square-foot industrial portfolio throughout the Ashton Creek area. The strategic location and high-quality construction of these facilities have made them a favorable choice for businesses looking to thrive in today's competitive market.
Words from Lingerfelt's Leadership
John Mason, Senior Vice President of Development at Lingerfelt, expressed enthusiasm about meeting the needs of Shepherd Electric in their new space. He emphasized Lingerfelt's focus on delivering premier industrial properties that cater to the logistical requirements of companies aiming for growth. Mason noted that the Ashton Creek area offers the connectivity and infrastructure that companies like Shepherd Electric need to enhance their operational capabilities.
Acknowledging Partners
The successful lease negotiations were facilitated by Colliers' team, including Wood Thornton, Rob Dirom, and Frank Hargrove, III, who worked diligently to ensure a seamless leasing process for all parties involved.
About Lingerfelt
Lingerfelt is a vertically integrated real estate investment management firm renowned for its results-driven approach. Established in the 1950s, Lingerfelt has become a dependable name in the real estate sector, consistently sourcing and investing in unique opportunities across the Mid-Atlantic and Southeast United States. The firm has amassed a portfolio of over 25 million square feet of commercial real estate valued at more than $3 billion, a testament to its efforts in creating valuable partnerships and delivering optimal returns.
Commitment to Excellence
The organization's commitment to quality and customer satisfaction continues to drive its growth, as it endeavors to meet the evolving needs of modern real estate markets.
Frequently Asked Questions
What is Ashton Logistics Park?
Ashton Logistics Park is a state-of-the-art industrial warehouse-distribution site designed for optimal logistics and operational efficiency, consisting of two buildings totaling 523,407 square feet.
Who is Shepherd Electric Supply?
Founded in 1892, Shepherd Electric Supply is a leading wholesale electrical distributor known for exceptional service and an expansive product range, servicing various sectors from commercial construction to government organizations.
Why is the recent lease significant?
The lease with Shepherd Electric Supply represents the achievement of full occupancy for Ashton Logistics Park, highlighting Lingerfelt's successful management and commitment to quality industrial spaces.
Who facilitated the lease negotiations?
The lease negotiations were handled by the experienced team from Colliers, including Wood Thornton, Rob Dirom, and Frank Hargrove, III.
What does Lingerfelt specialize in?
Lingerfelt specializes in real estate investment management, focusing on sourcing and developing industrial properties within the Mid-Atlantic and Southeast regions to maximize investment returns.
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