RICHMOND, Va., Sept. 8, 2014 /PRNewswire/ — Lingerfelt CommonWealth Partners today announced the acquisition of 14 properties located in the Triad Region of North Carolina. The portfolio totals 379,000 square feet of office and flex property located in three business parks: Deep River Corporate Center, West Friendly Business Park, and Air Park West. The properties are home to a credit tenant base with corporations such as R.F. Micro, Mack Truck World Headquarters, Volvo Group North America, and Berkley Insurance anchoring the portfolio.

“We’ve had our sights set on the North Carolina region for some time, including markets such as the Triad Region, Raleigh-Durham and Charlotte,” stated Ken Strickler, Senior Vice President at Lingerfelt CommonWealth Partners. “This acquisition is yet another opportunity for us to grow our portfolio with more institutionally maintained, well-located assets in markets we believe are poised for long-term recovery and growth.”

Lingerfelt CommonWealth Partners will handle all aspects of the day-to-day asset and property management through Commonwealth Commercial Partners, a property management affiliate who has opened an office in Greensboro. Triad Commercial Properties has been selected to handle the leasing and marketing for the portfolio.

The Greensboro acquisition marks Lingerfelt CommonWealth Partners’ first entry into the Carolinas in several years and brings its overall portfolio holdings to roughly 3 million square feet, including nearly 50 assets across four states in the Atlantic and Southeast.

About Lingerfelt CommonWealth Partners

Lingerfelt CommonWealth Partners, headquartered in Richmond, Virginia, is a quality full-service, self-administered and self-managed real estate company with a demonstrated history of successful real estate acquisition and development. Spanning three generations and more than 57 years in the real estate business, the company’s principals have built and acquired in excess of 16.2 million square-feet of commercial real estate valued at over $1.5 billion. Property types include: medical and professional offices, industrial and distribution facilities, data and call centers, full service and limited service hotels, elderly housing and nursing homes throughout the Mid-Atlantic and Southeast, primarily in Virginia, North Carolina, South Carolina, Tennessee and Maryland.

More on the company can be found on the web at www.LingerfeltCo.com.

CONTACTS:

Ryan Lingerfelt
Chief Investment Officer
Lingerfelt CommonWealth Partners
rlingerfelt@lingerfeltco.com

Ken Strickler
Senior Vice President
Lingerfelt CommonWealth Partners
kstrickler@lingerfeltco.com

Brian Witthoefft
Senior Vice President
Lingerfelt CommonWealth Partners
bwitthoefft@lingerfeltco.com

SOURCE Lingerfelt CommonWealth Partners