Lingerfelt Expands Lease with NEFCO at Northlake Facility
Lingerfelt is excited to share the news of a substantial lease expansion at the Northlake Distribution Center. This latest development marks a partnership with NEFCO Construction Supply, LLC, which has signed a lease for a generous 163,853 square feet in Building C of the facility. This expansion reflects NEFCO's commitment to enhancing their operations and better serving their customers.
Understanding NEFCO's Growth
NEFCO has become a trusted name in the construction supply business, offering a wide range of products and services to professional contractors nationwide. With 41 locations across the country, NEFCO is devoted to providing excellent local service, ensuring that clients have access to industry expertise, extensive inventories, dependable job site deliveries, and customized engineering services.
A Prime Location
The Northlake Distribution Center is a Class-A industrial warehouse that impressively features 293,187 square feet of space. Nestled in a key industrial area, it offers convenient access to major transportation routes, making logistics efficient for NEFCO and its suppliers. Since acquiring the property in March 2023, Lingerfelt has already begun extensive renovations. These improvements include essential upgrades like complete roof replacements, enhanced asphalt surfaces, and more efficient LED lighting, all aimed at creating an ideal workspace.
Leadership Reflections
Ron Cipriano, Executive Vice President and COO at NEFCO, expressed his excitement about the expansion. He pointed out that since the introduction of their second distribution center, NEFCO has experienced significant growth in the Virginia, Maryland, and North Carolina markets. This expansion allows NEFCO to offer a wider range of quality construction supplies, ensuring they meet the demands of their loyal customers.
Working Together with Lingerfelt
Rob Valentine, a Principal at Lingerfelt, shared his satisfaction with strengthening their partnership with NEFCO. He acknowledged NEFCO's impressive growth and its steadfast commitment to the Mid-Atlantic market. Lingerfelt's role will be crucial in supporting NEFCO's expansion strategy, and they are dedicated to aiding every step of the way.
About Lingerfelt
Lingerfelt is a respected real estate investment management firm that has been engaged in the Mid-Atlantic and Southeast regions for decades. Since the 1950s, they've built a solid reputation as a trustworthy partner in real estate, focused on identifying unique investment opportunities that lead to 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 changing market landscape.
The Future of NEFCO and Lingerfelt
As NEFCO works to enhance its distribution capabilities, the partnership with Lingerfelt is expected to thrive in the coming years. NEFCO's focus on innovation and improvement aligns seamlessly with Lingerfelt’s mission to enhance operational standards within their properties. This collaboration highlights the necessity of adaptability and forward-thinking approaches in the construction supply sector.
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.
