Caroline County announces that Lingerfelt, a real estate investment and asset management company headquartered in Richmond, will begin construction on a 325,500 square foot speculative industrial building in the Carmel Church Business Park in the summer of 2023.
The new industrial structure will be a $40,000,000 investment and hire scores of workers during construction. As a speculative project, a specific tenant or buyer is not yet identified.
The building is planned to be 350 feet by 930 feet with 9 docking bays for distribution or manufacturing. Ceiling heights will meet the latest demand in industrial uses at 36 feet high.
John Mason, Senior Vice President at Lingerfelt, said, “We believe the Ruther Glen interchange in Caroline County is one of the most strategic locations along the I-95 corridor from Petersburg to Woodbridge. Not only does this location provide users convenient service to the Richmond MSA and south, but it also provides coverage well into the northern Virginia region at occupancy costs which are much less than those northern markets.”
Chairman, Caroline County Board of Supervisors, Floyd Thomas of the Mattaponi District praised the investment: “Lingerfelt is a leader in the commercial development industry, and with this new facility, they will bring a quality building to attract new business, jobs, and revenue to Caroline County. We are pleased to welcome this outstanding business partner to Caroline.”
Reginald Underwood, Supervisor of the Reedy Church District: “The new building in Carmel Church continues Caroline’s success story of bringing new major industrial investment to Caroline, creating employment opportunities, while at the same time, retaining the community’s overall rural setting and high quality of life.”
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 www.lingerfelt.co.
