News release

JLL arranges sale and financing of multi-tenant logistics and distribution portfolio in Richmond, VA

Partners Group and Lingerfelt acquire 4-building, 1.2 million square-foot Class A industrial portfolio in Richmond 

March 17, 2023

Alli Semans

Hotels & Hospitality and Capital Markets PR
+1 330 329 6750

CHARLOTTE, Mar. 17, 2023 – JLL Capital Markets announced today that it has closed the sale and financing of Northlake and Walthall Distribution Centers, a four-building, Class A multi-tenant logistics portfolio totaling 1,161,716 square feet in the Richmond, Virginia MSA.

JLL represented the seller in the sale to Richmond-based developer and operator Lingerfelt, and Partners Group, a leading global private markets firm, acting on behalf of its clients. In addition, JLL worked on behalf of the new owner to secure acquisition financing.

Developed between 2000 and 2003, the institutional-grade logistics facilities feature sought-after cross-dock and rear-load configurations, market-appropriate 32-foot clear heights, ESFR fire protection and ample auto parking spaces. An efficient office buildout and multiple storefronts provide critical leasing flexibility across the portfolio. The multi-tenant facilities are 100% leased to a total of 18 diversified tenants including major, creditworthy multi-national firms.

The portfolio is located along the I-95 logistics and distribution super corridor, providing irreplaceable access to the entirety of the Richmond MSA, Metropolitan Washington, D.C. and the balance of the Eastern Seaboard, including the majority of the U.S. consumer base within a two-day’s drive. Moreover, the assets feature robust connectivity to key industrial demand drivers, including the Richmond Marine Terminal (RMT), Richmond International Airport (RIC), the Port of Virginia to the east and the booming I-85 logistics corridor to the south, connecting Richmond to Raleigh-Durham, Charlotte and Atlanta.

The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Senior Managing Directors Patrick Nally, Bill Prutting and Pete Pittroff and Directors Craig Childs and Dave Andrews, as well as Associates Josh McArdle and Zach Lloyd.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Ed Coco, Managing Directors Rob Carey and Chris Hew and Analyst Augustus Caiola.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Partners Group

Partners Group is a leading global private markets firm. Since 1996, the firm has invested over USD 195 billion in private equity, private real estate, private debt and private infrastructure on behalf of its clients globally. Partners Group seeks to generate superior returns through capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. The firm is a committed, responsible investor and aims to create sustainable returns with lasting, positive impact for all its stakeholders. With over USD 135 billion in assets under management as of 31 December 2022, Partners Group provides an innovative range of bespoke client solutions to institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,800 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit or follow us on LinkedIn or Twitter.

About Lingerfelt 

Lingerfelt is a vertically integrated real estate investment and asset management company investing and developing throughout the Mid-Atlantic and Southeast. Together with its predecessors, Lingerfelt has maintained a reputation of quality and excellence in the commercial real estate industry dating back to 1957. Lingerfelt and its partners have built, acquired, and managed over 25 million square feet of commercial real estate valued at approximately $3 billion across the Mid-Atlantic and Southeast. To learn more, visit