Lingerfelt & Davis Close on 95 Acres Near Richmond International Airport for 7 Hills Distribution Center Project

Lingerfelt and The Davis Companies have announced the joint venture acquisition of 95 acres of land in Henrico County, Va., for the development of 7 Hills Distribution Center. The site, located 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 and 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 follows the successful delivery of the Carmel Church Business Center, another Lingerfelt and Davis joint venture located north of Richmond, along Interstate 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.

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.

For its latest industrial development in Henrico, local real estate investment firm Lingerfelt is partnering with a New England peer on a multibuilding warehouse complex next to Richmond International Airport. Lingerfelt announced Thursday it has entered into a joint venture with Boston-based Davis Cos. to acquire and develop a roughly 95-acre site at Charles City and Monahan roads, where they’ll break ground in late summer on the first of four buildings that will make up 7 Hills Distribution Center.

The buildings are planned to total over 820,000 square feet of warehouse and distribution space, on land already zoned for industrial use. The first building, which will be built on spec, will total about 268,000 square feet and is targeted for delivery in the fall of 2026. Construction on the other buildings would follow, with build-to-suit or pre-lease arrangements based on leasing activity, the firms said in a joint release.

The first building, which will be built on spec, will total about 268,000 square feet and is targeted for delivery in the fall of 2026. Construction on the other buildings would follow, with build-to-suit or pre-lease arrangements based on leasing activity, the firms said in a joint release.

The firms purchased the site at 6200 Monahan Road in a deal recorded with the county May 21. An LLC tied to the firms paid $9 million for the 93.5 acres, according to transactions reported by Commonwealth Commercial Partners.

The seller was International Real Estate Development, a Henrico-based firm led by Josef Haas Jr. that had owned the land since at least 2004. Commonwealth Commercial’s Ben Bruni brokered the deal for Lingerfelt. Rob Valentine, Lingerfelt’s managing director of investments, said the site had been planned for industrial development but was softly marketed for sale when Bruni brought it to the firm’s attention.

He said Lingerfelt put it under contract in 2021 and spent the time since securing development and wetland mitigation approvals. Henrico assessed the property this year at over $3.8 million.

Valentine said the firms have received interest from potential users for the buildings, which he said could accommodate single or multiple tenants. The other buildings are planned at 218,000, 186,000 and 148,000 square feet.

“We’d obviously prefer a single tenant, but that’s not always how it happens. It takes a lot of risk off the table if we are leasing to a single building user prior to delivery, and usually that’s when we would lease to a single tenant,” he said, adding that additional costs come with outfitting buildings for multiple tenants.

A cost estimate for the overall project was not disclosed. Lingerfelt is handling leasing and management for the center.

Arco Design/Build is signed on as the general contractor for the project. RK&K is the civil engineer, and Townes Site Engineering handled wetlands permitting. Troutman Pepper Locke was the group’s legal counsel.

The joint venture is the second for Lingerfelt and Davis, which previously collaborated on a 325,000-square-foot building at Carmel Church Business Center in Caroline County. That building was delivered early last year.

Valentine said that project led to Davis’ collaboration on 7 Hills with Lingerfelt, which often enlists equity partners on its projects.

“We’re just following on the coattails of our Carmel Church partnership with Davis,” Valentine said. “We’ve been engaged with them on this particular site for at least two years. It’s a long-standing relationship, and they’ve proved themselves to be a good partner that fit the mold for this particular project.”

7 Hills is the latest industrial deal for Lingerfelt. The firm, led by father-and-son team Alan and Ryan Lingerfelt and President Brian Witthoefft, is also partnering with SCOA Real Estate Partners on a 348,000-square-foot distribution center near Prince George. Page 3 of 4 In April, Lingerfelt sold Port 801, a distribution warehouse in southern Chesterfield, to national firm LBA Logistics for $35 million.