Equus Capital Partners, Ltd. and Ontario Teachers’ Pension Plan have acquired Ashton Logistics Park, a recently built industrial portfolio in Chesterfield County, Virginia. The two-building complex totals 523,407 square feet and is situated in the Richmond metropolitan area. The acquisition represents the first transaction completed under a new joint venture between Equus and Ontario Teachers’, which is focused on pursuing core and core-plus industrial assets in key markets across the United States.
Lingerfelt sold Ashton Logistics Park for $78.2 million, with Newmark brokering the transaction. The property is located within Richmond’s I-95 South industrial submarket, a distribution corridor that offers connectivity to major interstate routes serving the Mid-Atlantic and Southeast regions. The park’s positioning along this primary transportation spine underscores its role within regional logistics and distribution networks.
Ashton Logistics Park was constructed in 2024 and comprises two adjacent Class A logistics facilities. The larger building, located at 1660 Ashton Park Drive, contains 437,657 square feet. The second building, at 1630 Ashton Park Drive, totals 85,750 square feet. Both properties were delivered as modern, institutional-grade industrial assets designed to support high-throughput logistics operations.
The portfolio is fully leased to two institutional-quality tenants, providing in-place cash flow at the time of the transaction. While tenant names and lease terms were not disclosed, the 100% occupancy level at a newly constructed Class A logistics park highlights sustained demand for modern industrial facilities in the Richmond area. The joint venture between Equus and Ontario Teachers’ is using this acquisition as its inaugural investment, signaling the launch of a programmatic allocation strategy aimed at accumulating stabilized industrial properties in strategically located markets.
By targeting core and core-plus logistics assets, the venture is aligning its investment approach with long-term income stability and durable tenant demand. The combination of new construction, full occupancy, and access to a key East Coast distribution corridor positions Ashton Logistics Park as a representative example of the type of institutional-quality industrial product that continues to attract capital. The transaction also illustrates ongoing liquidity and buyer interest for modern, large-scale industrial facilities in established logistics submarkets.
