Lingerfelt Achieves Full Occupancy at Ashton Logistics Park
Lingerfelt and Colliers are excited to share a major milestone: they’ve successfully executed an 85,750 square-foot full-building lease with Shepherd Electric Supply at Ashton Logistics Park. This facility, located at 1630 Ashton Park Drive, represents a vital advancement in enhancing local logistics capabilities.
About Shepherd Electric Supply
Founded in 1892, Shepherd Electric Supply holds the title of the oldest wholesale electrical distributor in the Mid-Atlantic region. Headquartered in Clayton, Missouri, this American-owned company is renowned for its exceptional customer service and maintains the largest inventory in the area. They provide products and services to a broad spectrum of clients, including those in commercial construction, lighting and switchgear projects, government entities, and various industrial sectors.
Overview of Ashton Logistics Park
Ashton Logistics Park features two buildings that together encompass 523,407 square feet and are specifically tailored for industrial warehousing and distribution. Managed by ARCO Design Build, this project was completed in the first quarter of the year and initially achieved an impressive occupancy rate of 84%. Thanks to the recent lease with Shepherd Electric, both buildings are now fully leased on a long-term basis.
Importance of Full Occupancy
This landmark agreement signifies that Ashton Logistics Park has reached 100% occupancy. It also underlines Lingerfelt's effective management of a robust 1.8 million-square-foot industrial portfolio in the Ashton Creek area. The prime location and superior construction of these facilities make them particularly appealing to businesses looking to succeed in today’s competitive landscape.
Insights from Lingerfelt's Leadership
John Mason, Senior Vice President of Development at Lingerfelt, shared his excitement about fulfilling Shepherd Electric's needs in their new facility. He pointed out that Lingerfelt is dedicated to providing top-tier industrial properties that support the logistical demands of growing companies. Mason highlighted the Ashton Creek area’s connectivity and infrastructure, which are essential for businesses like Shepherd Electric seeking to enhance their operational efficiency.
Appreciating Collaborative Efforts
The successful lease negotiations were made possible thanks to the efforts of Colliers' team members, including Wood Thornton, Rob Dirom, and Frank Hargrove, III, who worked tirelessly to facilitate a seamless leasing experience for everyone involved.
About Lingerfelt
Lingerfelt is a vertically integrated real estate investment management firm known for its outcome-focused approach. Since its inception in the 1950s, Lingerfelt has established itself as a trusted name in real estate, consistently identifying and investing in unique opportunities throughout the Mid-Atlantic and Southeast regions of the United States. The firm now boasts a portfolio exceeding 25 million square feet of commercial real estate valued at over $3 billion, reflecting its commitment to forging valuable partnerships and yielding optimal returns.
Commitment to Quality
With a strong focus on quality and customer satisfaction, Lingerfelt continues to grow, aiming to meet the dynamic requirements of today’s real estate markets.
Frequently Asked Questions
What is Ashton Logistics Park?
Ashton Logistics Park is a modern industrial warehouse-distribution site designed for maximum efficiency, featuring two buildings that add up to 523,407 square feet.
Who is Shepherd Electric Supply?
Shepherd Electric Supply, established in 1892, is a leading wholesale electrical distributor recognized for its outstanding service and vast product selection, catering to a variety of sectors from commercial construction to government operations.
Why is the recent lease notable?
The lease with Shepherd Electric Supply marks the achievement of full occupancy at Ashton Logistics Park, showcasing Lingerfelt's successful management and dedication to quality in industrial spaces.
Who managed the lease negotiations?
The lease negotiations were expertly conducted by the Colliers team, including Wood Thornton, Rob Dirom, and Frank Hargrove, III.
What is Lingerfelt's area of expertise?
Lingerfelt specializes in real estate investment management, focusing on sourcing and developing industrial properties in the Mid-Atlantic and Southeast regions to optimize investment yields.
