Lingerfelt Expands Lease with NEFCO at Northlake Facility
Lingerfelt Expands Lease with NEFCO at Northlake Facility
Lingerfelt is thrilled to announce the exciting news of a significant lease expansion at the Northlake Distribution Center. This recent development involves a partnership with NEFCO Construction Supply, LLC, who has signed a lease for a spacious 163,853 square feet at Building C of the facility. This expansion stems from NEFCO's dedication to growing their operations and serving their clients more effectively.
About NEFCO's Growth
NEFCO has established itself as a reputable construction supply company, known for providing a variety of products and services aimed at professional contractors across the nation. With 41 locations throughout the country, NEFCO is dedicated to local service excellence, ensuring clients receive industry knowledge, robust inventories, reliable job site deliveries, and tailored engineering services.
A Strategic Location
The Northlake Distribution Center itself is a Class-A industrial warehouse that stands impressive with its 293,187 square feet of space. Situated in a prime industrial area, it provides easy access to major transport routes, facilitating efficient logistics for NEFCO and its suppliers. Following its acquisition in March 2023, Lingerfelt immediately embarked on extensive renovations. These included critical upgrades like full roof replacements, improved asphalt surfaces, and enhanced lighting through LED retrofits, creating an optimal working environment.
Statements from Leadership
Ron Cipriano, the Executive Vice President and COO at NEFCO, shared his enthusiasm regarding the expansion. He noted that since launching their second distribution center, NEFCO has witnessed remarkable growth within the Virginia, Maryland, and North Carolina markets. This expansion enables NEFCO to stock a more extensive inventory of quality construction supplies and ensures they can continue to meet the needs of their dedicated customers.
Collaboration with Lingerfelt
Rob Valentine, a Principal at Lingerfelt, expressed his pleasure at enhancing their collaborative relationship with NEFCO. He acknowledged the company's impressive growth and its commitment to the Mid-Atlantic market. Lingerfelt's involvement will support NEFCO's strategy for expansion, and they are committed to assisting with every step of this journey.
About Lingerfelt
Lingerfelt is a well-respected real estate investment management firm that has been active in the Mid-Atlantic and Southeast regions for decades. They have built a strong reputation since the 1950s as a reliable partner in real estate, committed to sourcing unique opportunities for investment that result in significant returns. With a portfolio exceeding 25 million square feet of commercial real estate valued at over $3 billion, Lingerfelt continues to grow and adapt to the evolving market demands.
The Future of NEFCO and Lingerfelt
As NEFCO continues to expand its distribution capabilities, the partnership with Lingerfelt is set to flourish over the coming years. NEFCO's commitment to innovation and improvement aligns perfectly with Lingerfelt’s aims of enhancing operational standards within their properties. This collaboration underscores the importance of adaptability and forward-thinking strategies within the construction supply industry.
Frequently Asked Questions
What is the size of the lease signed by NEFCO?
NEFCO signed a lease for 163,853 square feet at the Northlake Distribution Center.
Where is the Northlake Distribution Center located?
The Northlake Distribution Center is strategically located with access to key transport routes, enhancing logistical capabilities.
Who represented NEFCO in the lease transaction?
NEFCO was represented by Jason Hetherington, Brad Lowry, Doug Tice, and Mike Puzzo from CBRE.
What renovations has Lingerfelt made to the Northlake facility?
Lingerfelt undertook a series of renovations including roof replacements, asphalt enhancements, building painting, and LED lighting retrofits.
How long has Lingerfelt been in the real estate business?
Lingerfelt has been operating in the real estate sector since the 1950s, establishing a longstanding reputation for reliability and growth.
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