Lingerfelt & Partners Group Sells Industrial Portfolio In South Chesterfield For $175M

The transaction involves the sale of a four-building, industrial portfolio located at 1974 Ruffin Mill Road, 1984 Ruffin Mill Road, 1900 Ruffin Mill Road, 1934 Ruffin Mill Road, and 1936 Ruffin Mill Road in South Chesterfield, VA. The total square footage of the portfolio is 1,200,000, and the sale was completed for a total price of $175,000,000, which equates to approximately $146 per square foot.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $175,000,000
• Square Footage: 1,200,000
• Price per Square Foot: $146
• Seller: Lingerfelt & Partners Group

Lingerfelt and Partners Group acquired the portfolio in 2023 for $105.6 million, representing a significant return on investment with the sale to an undisclosed buyer. This transaction underlines the growing demand in the Richmond-area industrial market.