Lingerfelt Expands Leasing Agreement with NEFCO at Northlake
Lingerfelt Expands Leasing Agreement with NEFCO at Northlake
Lingerfelt has recently announced an exciting lease expansion at the Northlake Distribution Center with NEFCO Construction Supply, LLC. This significant development includes a lease of 163,853 square feet, allowing NEFCO to further enhance its operations and service offerings within the construction supply sector.
Details of the Lease Expansion
The lease, finalized at the Northlake Distribution Center - Building C, highlights Lingerfelt's commitment to supporting growing companies like NEFCO. This expansion equips NEFCO to meet the growing demands of contractors by improving its existing infrastructure and capacity for inventory.
Representation in the Agreement
In the successful negotiation of this agreement, NEFCO was represented by Jason Hetherington, Brad Lowry, Doug Tice from CBRE, while Lingerfelt had representation from Matt Anderson and Harrison McVey of Range Commercial Partners. This collaboration demonstrates a robust partnership among industry professionals dedicated to delivering quality service and solutions.
NEFCO's Mission and Growth
NEFCO stands as a family-owned entity specializing in providing a wide range of products and services to contractors. With an impressive national footprint that includes 41 locations, their operations are characterized by localized, contractor-centric services. This includes not only product availability but also expertise and reliable on-the-ground support.
Northlake Distribution Center Overview
The Northlake Distribution Center boasts a substantial 293,187 square feet. This Class-A industrial facility is strategically located in a prime industrial node with excellent connectivity to major distribution arteries. Since acquiring the property in early 2023, Lingerfelt has implemented a thorough capital improvement program aimed at enhancing the facility. Key enhancements include roof replacements, parking lot updates, and energy-efficient lighting upgrades.
Comments from Key Figures
Ron Cipriano, Executive Vice President & COO at NEFCO, expressed enthusiasm about the partnership. He emphasized the tremendous strides NEFCO has made since launching their second distribution center and how this expansion is vital for their growing customer base. The additional space will allow NEFCO to offer a broader range of construction supplies, focusing on crucial lines like SHARP® and safety products.
Rob Valentine, Principal at Lingerfelt, echoed Cipriano's sentiments. He highlighted the significance of the relationship with NEFCO, noting that this lease expansion is a reflection of NEFCO’s success and growth in key markets. It is a win-win scenario that enhances services in the Mid-Atlantic region.
Lingerfelt's Commitment to Real Estate Excellence
Lingerfelt is well-established in the Mid-Atlantic and Southeast U.S. real estate markets, excelling in identifying unique investment opportunities since the 1950s. The firm’s expertise encompasses sourcing, acquiring, and successfully managing properties exceeding 25 million square feet, valued at over $3 billion. This growth trajectory signifies Lingerfelt's reliability and strategic initiatives in the commercial real estate sector.
Media Inquiries and Contact Information
For any media inquiries regarding this lease agreement or Lingerfelt's operations, Rob Valentine, Principal at Lingerfelt, is available for contact. You can reach him via email for further information or questions.
Frequently Asked Questions
What is the significance of the lease expansion?
The lease expansion facilitates NEFCO's growth, allowing them to enhance service delivery to contractors by increasing inventory capacity.
Who represented NEFCO in the lease agreement?
NEFCO was represented by Jason Hetherington, Brad Lowry, and Doug Tice from CBRE.
What improvements have been made to the Northlake Distribution Center?
Improvements include roof and asphalt replacements, building painting, and upgrades to LED lighting.
How does Lingerfelt support the growth of businesses like NEFCO?
Lingerfelt provides high-quality, flexible leasing options that facilitate expansion opportunities for rapidly growing companies.
What is NEFCO's core service offering?
NEFCO provides a wide range of construction supplies and services tailored to meet the needs of professional contractors.
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