Lingerfelt Announces the Sale of 1701 Bermuda Industrial Development

RICHMOND, Va., Sept. 18, 2025 /PRNewswire/ -- Lingerfelt today announced the disposition of 1701 Bermuda Hundred, a 187,890 square foot state-of-the-art industrial facility located at Chesterfield County's Meadowville Technology Park. The property was sold to an undisclosed buyer on September 9^th, 2025, for $31.25 million. Will Bradley and Mark Williford with Newmark Industrial Capital Markets represented Lingerfelt in the transaction.

Lingerfelt, together with joint-venture partner Richardson Properties, developed and delivered 1701 Bermuda in August of 2023, subsequently signing a long-term credit tenant lease for the entire facility.

"This project underscores our ability to identify, coordinate, and execute complex industrial development opportunities that meet the needs of today's top industrial tenants and which provide exemplary outcomes for our valued investors," said Brian Witthoefft, President at Lingerfelt.

About Lingerfelt
Lingerfelt is a vertically integrated real estate investment management firm serving the Mid-Atlantic and Southeast United States. Since the 1950's, Lingerfelt has been a dependable name in real estate and continues to build upon a stellar reputation by sourcing and investing in unique real estate opportunities that deliver best-in-class product for the modern user, while also providing outsized returns to its investors. Lingerfelt, along with its partners, has successfully constructed, acquired, and managed a portfolio of over 25 million square feet of commercial real estate valued at over $3 billion and growing each day. To learn more, visit www.lingerfelt.co.

About Richardson Properties
Richardson Properties LLC is a private real estate investment company based in Greensboro, North Carolina, owned by the Richardson Family. Richardson Properties and its affiliates have been investing in commercial real estate on behalf of the Richardson Family since 1925 when the Family separated their real estate holdings from Richardson-Vicks, Inc. The Company owns directly, or through joint ventures, a number of office, industrial, retail, and residential properties located in North Carolina, South Carolina, and Virginia. The Company is primarily an equity investor, and uses its financial strength and previous experience in development, construction, property management, and leasing to add value to its properties and developments. To learn more, visit www.richcorp.com.

Media Contact:
Rob Valentine
Managing Director, Investments
(804) 270-0015
[email protected]

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SOURCE Lingerfelt