Lingerfelt & Davis Close on 95 Acres Near Richmond International Airport for 7 Hills Distribution Center Project
RICHMOND, Va., May 29, 2025 /PRNewswire/ -- Lingerfelt and The Davis Companies (Davis) today announced the joint-venture acquisition of 95 acres of land in Henrico County, Virginia, for the development of 7 Hills Distribution Center. The site, located just south of Richmond International Airport, is fully entitled for the phased development of approximately 820,800 square feet of Class A warehouse and distribution space across four buildings.
Phase I of the project is expected to break ground in late summer 2025 and will include major site work, the extension of 7 Hills Boulevard through the property, and the speculative construction of Building 1, totaling 267,840 square feet. Delivery of Building 1 is anticipated for Fall 2026.
"This is an exciting milestone that reflects our ongoing strategy of developing high-quality industrial assets in key growth corridors," said Ryan Lingerfelt, Chief Executive & Investment Officer at Lingerfelt. "We're proud to partner with Davis on this project and look forward to delivering much-needed Class A industrial space to the market."
Construction of Buildings 2, 3, and 4 will commence upon completion of Phase I, and will offer flexibility for build-to-suit or pre-lease arrangements dependent on user leasing activity.
This joint venture comes on the heels of last year's successful delivery of Carmel Church Business Center, another Lingerfelt and Davis joint venture located north of Richmond, along I-95 in Caroline County, which brought 325,500 square feet of Class A warehouse space to the region.
"With proximity to the airport and key interstates, 7 Hills Distribution Center will provide the highly connected, top quality industrial space that companies need to scale operations in the Richmond region," said Kevin Wong, Vice President of Investments at Davis.
About Lingerfelt
Lingerfelt is a privately held real estate investment firm with a long track record of acquiring, developing, and managing commercial real estate assets in the Southeast and Mid-Atlantic regions. The firm specializes in industrial, office, and healthcare properties, with a focus on delivering value-driven solutions for investors and tenants alike. For further information, visit www.lingerfelt.co.
About Davis
Davis is a vertically integrated real estate investment, development and management firm that leverages five decades of experience, the strength of its leadership team and employees and a diversified portfolio to deliver maximum value for its investors and tenants. Headquartered in Boston and investing across the United States, Davis prides itself on taking a nimble, collaborative approach to delivering best-in-class results from complex opportunities. Since inception, Davis has invested in $13.2 billion in gross asset value through real estate equity, debt and fixed-income securities, Davis today owns a real estate portfolio of approximately 15.4 million square feet of healthcare and life science, industrial, retail, office and hospitality properties and more than 5,600 residential units across the United States. For further information, visit www.thedaviscompanies.com.
Media Contact:
Rob Valentine
Managing Director, Investments
(804) 270-0015
RValentine@Lingerfelt.co
SOURCE Lingerfelt