Lingerfelt Strengthens Leasing Agreement with NEFCO at Northlake
Lingerfelt has announced an exciting expansion of its lease agreement with NEFCO Construction Supply, LLC at the Northlake Distribution Center. This important development comprises a lease of 163,853 square feet, empowering NEFCO to enhance its operations and service capabilities within the construction supply industry.
Overview of the Lease Expansion
The lease, completed at the Northlake Distribution Center - Building C, reflects Lingerfelt's dedication to supporting growing businesses like NEFCO. With this expansion, NEFCO can better meet contractors' increasing needs by upgrading its infrastructure and inventory capacity.
Representation in the Agreement
During the negotiation of this agreement, NEFCO received representation from Jason Hetherington, Brad Lowry, and Doug Tice of CBRE. Meanwhile, Lingerfelt’s representatives included Matt Anderson and Harrison McVey from Range Commercial Partners. This collaboration highlights a strong partnership among industry professionals devoted to delivering top-notch service and solutions.
NEFCO's Mission and Expansion
NEFCO is a family-owned business that specializes in supplying a broad range of products and services tailored for contractors. With a notable presence nationwide featuring 41 locations, their operations are driven by localized, contractor-focused services, which encompass product availability, expertise, and dependable on-site assistance.
Northlake Distribution Center Profile
The Northlake Distribution Center encompasses 293,187 square feet of space. This Class-A industrial facility is strategically situated in a key industrial area, benefiting from excellent access to major distribution routes. Since purchasing the property in early 2023, Lingerfelt has initiated a comprehensive capital improvement plan aimed at enhancing the facility. Key upgrades include roof replacements, renovation of the parking lot, and installation of energy-efficient lighting.
Insights from Key Figures
Ron Cipriano, Executive Vice President & COO at NEFCO, shared his enthusiasm about the partnership, noting the remarkable progress NEFCO has made since opening their second distribution center. He stated that this expansion is crucial for serving their growing customer base, enabling NEFCO to provide a wider variety of construction supplies, especially important lines such as SHARP® and safety products.
Rob Valentine, Principal at Lingerfelt, echoed Cipriano's thoughts. He emphasized the importance of Lingerfelt's relationship with NEFCO, asserting that this leasing expansion reflects NEFCO's achievements and growth in vital markets. It’s a mutually beneficial situation that improves services across the Mid-Atlantic region.
Lingerfelt's Commitment to Real Estate Excellence
Since the 1950s, Lingerfelt has established itself as a key player in the Mid-Atlantic and Southeast U.S. real estate markets. The firm excels in identifying unique investment opportunities and their expertise spans sourcing, acquiring, and effectively managing properties that total over 25 million square feet and are valued at more than $3 billion. This trajectory of growth underscores Lingerfelt's reliability and strategic innovations in the commercial real estate landscape.
Media Inquiries and Contact Information
If you have any media inquiries about this lease agreement or Lingerfelt's operations, reach out to Rob Valentine, Principal at Lingerfelt. He is available via email for additional information or questions.
Frequently Asked Questions
What does the lease expansion mean for NEFCO?
The lease expansion supports NEFCO's growth, allowing them to improve service delivery to contractors by boosting their inventory capacity.
Who represented NEFCO during the lease agreement negotiations?
NEFCO was represented by Jason Hetherington, Brad Lowry, and Doug Tice from CBRE.
What types of improvements have been made to the Northlake Distribution Center?
Enhancements include roof replacement, asphalt work, painting, and upgrades to LED lighting.
How does Lingerfelt assist businesses like NEFCO in growth?
Lingerfelt offers flexible, high-quality leasing options that facilitate expansion for quickly growing companies.
What are NEFCO's primary offerings?
NEFCO delivers a comprehensive range of construction supplies and services, specifically designed to meet the needs of professional contractors.
