Henrico industrial facility purchased for $7.8M

Building in Richmond Distribution Center will undergo renovations

Published April 10, 2021 by Rich Griset

Lingerfelt CommonWealth has announced that a multimillion-dollar renovation and reposition of the property will take place.

On April 7, Richmond-based commercial real estate investment firm Lingerfelt CommonWealth Partners LLC announced it had acquired an industrial facility in Henrico County for $7.8 million.

Located at 4300 Carolina Ave., the 223,479-square-foot industrial facility is located in the Richmond Distribution Center complex near Richmond International Raceway.

Lingerfelt CommonWealth announced that the property, which is currently unoccupied, will receive a multimillion-dollar renovation. Improvements to the property will take approximately three months and include structural upgrades such as an expanded truck court and loading area, new dock doors, seals, levelers, additional loading docks, a new LED warehouse lighting package, a modernized sprinkler system and a new roofing system.