Newmark Arranges Sale of 173,800-SF ACDC I-95 Industrial Asset in Richmond, Virginia
RICHMOND, Va. — June 8, 2026 — Newmark announces the Company arranged the sale of Ashton Creek Distribution Center I-95 ("ACDC I-95"), a 173,800-square-foot Class A industrial asset with an adjoining 7.48-acre secure industrial outdoor storage yard located at 1611 Ashton Park Drive in Richmond, Virginia. The seller was Lingerfelt Capital Partners, a vertically integrated real estate investment management firm. The buyer was Manulife Investment Management. Financial terms of the transaction were not disclosed.
Newmark Executive Managing Directors Will Bradley and Mark Williford, along with Vice Chairman Dustin Volz, represented Lingerfelt in the transaction.
Asset Details and Tenancy
The newly constructed facility is 100% leased to MEI Industrial Solutions, a national industrial services provider specializing in rigging, machine moving, industrial storage, crating, export packaging and specialty transportation. The asset features modern institutional-quality specifications, immediate interstate access and a secure outdoor storage component designed to support high-value logistics and industrial operations.
Strategic Location and Interstate Access
The asset provides immediate access to I-95, I-64, I-85 and I-295, enabling efficient distribution throughout the Mid-Atlantic, Southeast and broader Eastern Seaboard. The property further benefits from its proximity to the Port of Virginia and access to more than 50% of the U.S. population within a day's drive.
"Investors continue to prioritize high-quality logistics assets with differentiated functionality and long-term embedded growth potential," said Bradley. "ACDC I-95 offered a compelling combination of Class A construction, an institutional quality IOS component of scale, strong contractual rent growth and strategic East Coast connectivity in one of the country's most sought-after industrial corridors."
About the Firms
Lingerfelt is a vertically integrated real estate investment management firm serving the Mid-Atlantic and Southeast United States. Since the 1950s, the firm has been active in commercial real estate and, along with its partners, has constructed, acquired and managed a portfolio of more than 25 million square feet of commercial real estate valued at over $3 billion.
Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate services firm offering a suite of services to owners, occupiers and investors. For the twelve months ended March 31, 2026, Newmark generated revenues of more than $3.4 billion. As of March 31, 2026, Newmark and its business partners operated from over 185 offices with more than 9,600 professionals across four continents.
Sources
Newmark Press Release: Newmark Arranges Sale of ACDC I-95 in Richmond, Virginia (June 8, 2026)