Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

Washington DC CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Washington DC & Mid-Atlantic  + Virginia  + Industrial  |  April 15, 2026
Jasmine Kilman
By: Jasmine Kilman

Lingerfelt, Partners Group Close $175M Sale of 1M-SF Virginia Industrial Portfolio

Lingerfelt and Partners Group completed the sale of a 1.16 million-square-foot WalthallNorthlake Industrial Portfolio located in the Richmond, Virginia, metropolitan area.

The portfolio was sold to an undisclosed buyer for $175 million, or approximately $151 per square foot. JLL’s Industrial Capital Markets team represented the joint venture in the sale transaction. Range Commercial Partners served as the portfolio’s leasing and property management partner.

The WalthallNorthlake Industrial Portfolio is a fully leased industrial warehouse and distribution portfolio comprising four institutional-quality industrial buildings. This includes three buildings within Walthall Distribution Center in South Chesterfield, Virginia and one building within Northlake Distribution Center in Ashland, Virginia.

Lingerfelt and Partners Group acquired the portfolio in March 2023 for $105.6 million through a joint venture, with Partners Group as the majority investor. The venture then executed a comprehensive value-add business plan that included completing a $9 million capital improvement program, resulting in a fully stabilized, 100% leased portfolio at the time of sale.

Read More News Stories About: JLL
Connect

Inside The Story

LingerfeltPartners GroupJLLRange Commercial

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
Order Reprints