JLL sells Port 801 in Richmond, Virginia on behalf of Lingerfelt

WASHINGTON, D.C., Apr. 1, 2025 –  JLL Capital Markets announced today it acted as the sole and exclusive advisor to Lingerfelt in the sale of Port 801, a 239,448-square-foot Class A logistics facility located in the heart of the Richmond, Virginia market.

Port 801 boasts numerous future-proofed features, including a 32-foot clear-height, ESFR sprinklers, 56 equipped dock-high doors, off-dock trailer and abundant car parking and a 190-foot-deep truck court, which enabled Lingerfelt to secure two credit tenants under long-term leases. These attributes, coupled with the asset’s proximity to the Port of Virginia, the East Coast’s third largest port and the sixth largest port system in the United States, made Port 801 a highly sought-after investment offering. 

“This transaction marks an important milestone in Lingerfelt’s investment strategy, contributing to the continued growth of the region’s industrial sector while delivering strong returns for our investors through strategic divesting represented by Port 801,” said John Mason, Managing Director of Development at Lingerfelt.

“We are highly active with new development projects and existing asset acquisitions as we remain committed to expanding our portfolio in Central Virginia and strategically in other East Coast markets,” noted Rob Valentine, Managing Director of Investments.

The JLL Capital Markets team was led by Senior Managing Directors Bill Prutting and Pete Pittroff, along with Senior Directors Craig Childs, Dave Andrews and Christopher Dale and Managing Director Rob Carey. The local market leasing efforts were spearheaded by Executive Managing Director Jimmy Appich and Senior Vice President Chris Avellana.

“We value the trust Lingerfelt placed in JLL; they were a hands-on partner in our process, which directly contributed to our collective success in executing the sale,” added Prutting. “Our team has been beating the drum for Richmond for years, the result of which has been generating 50% of our offers on recent offerings, Port 801 included. From first-time to institutional investors, groups are recognizing the strong market fundamentals, solid demographics and Port proximity, which will continue to drive long-term occupier, investor and lender interest in the Richmond industrial market."

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.

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Lingerfelt is a vertically integrated real estate investment firm and has been a trusted name with over four decades of experience in commercial real estate acquisitions, development, and investment management. The firm specializes in identifying and executing investment opportunities across key markets, delivering strong returns for investors while fostering economic growth in the communities it serves. Lingerfelt has been a trusted name in commercial real estate for over four decades, with a current focus on acquiring and developing industrial assets in Virginia and the Southeast. The firm remains committed to identifying and investing in high-quality properties that align with evolving market trends and investor interests. For more information, contact Rob Valentine Managing Director, Investments (804) 270-0015, or visit www.lingerfelt.co.