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Lake Washington Partners announces acquisition of Hickory Hill Logistics property in Richmond MSA from Raith Capital & Equity Industrial Partners
September 29, 2025
Lake Washington Partners (LWKP), a national real estate investment and development firm, today announced the acquisition of Hickory Hill, a 1.1+ million-square-foot Class A distribution center located at 10462 Hickory Hill Road in Hanover County, Virginia. This transaction underscores LKWP’s commitment to investing in high-quality logistics assets with long-term growth potential. The seller is a joint venture between Raith Capital Partners and Equity Industrial Partners.
Strategically positioned within the Richmond metropolitan area, Hickory Hill offers unparalleled regional and national connectivity, providing access to more than 55% of the U.S. population within 750 miles. Located just off I-95 and I-64, the property also benefits from proximity to the Port of Virginia, Washington D.C., and the midpoint of the East Coast’s primary north-south business corridor.
The site, situated on 189.5 acres, features state-of-the-art specifications including 36-foot clear ceiling heights, four oversized drive-in doors, 120 dock doors, LED lighting, ample auto and trailer parking, and a high weight-bearing eight-inch floor slab to support distribution. In addition, Hickory Hill offers land allowing for future strategic expansion.
“Acquiring Hickory Hill represents a terrific growth opportunity for Lake Washington Partners,” said Jordan Lott, CEO and President at Lake Washington Partners. “This property combines a best-in-class logistics asset in one of the country’s most competitive distribution corridors and has the added benefit of room for additional development. We’re thrilled to add Hickory Hill to our growing national portfolio.”
“Lake Washington Partners has been a strong partner and investor in Hanover County; we have had a wonderful relationship with the company over the past few years, and are delighted to hear of the firm expanding their footprint in the community” states Brandon Turner, Director of Economic Development. “We believe Hickory Hill will continue to be a strong economic driver for the County for years to come and look forward to many more years of collaboration and success”.
This acquisition further strengthens LWKP’s presence in the national real estate market as the company continues to identify opportunities to invest in high-performing industrial and distribution properties across the country.
About Lake Washington Partners LLC:
Lake Washington Partners (lkwp.com) is a private, family-owned commercial real estate investor and developer focused on office and industrial properties across the United States. The company’s focus is on long-term portfolio investments and development projects. They are regarded for their customer-centric approach, which currently spans nearly 10.5M square feet in 10 states.
About Raith Capital Partners
Raith, headquartered in New York, NY, was founded in February 2012 by William W. Landis III, Nelson Hioe and Michael Suchy (the “Partners”) who collectively have decades of commercial real estate investment experience over multiple cycles. The Partners have worked together since 2009 and, during this time, have executed on distressed debt investments, direct equity acquisitions, high yield commercial mortgage-backed securities (“CMBS”), and mezzanine loans totaling in excess of $2 billion of equity capital.
Raith Capital Partners, LLC is registered as an investment adviser under the Investment Advisers Act of 1940, as amended (the “Advisers Act”) with the U.S. Securities and Exchange Commission (the “SEC”). Registration does not imply a certain level of skill or training. For further information on Raith Capital Partners, please visit https://www.raithcapital.com/.
About Equity Industrial Partners
Founded in 1995, EIP is a privately-held developer and operator of industrial, warehouse, distribution, and office properties throughout the United States. Since the firm’s inception, EIP has acquired and developed over 100 million square feet of commercial and industrial properties. As a fully integrated real estate company, EIP currently owns and manages over 20 million square feet of property across 17 states in the continental U.S. EIP provides a full range of services to its tenants and partnerships, including financing, leasing, construction management, and property management. EIP’s principals and senior management team have well over 100 years of combined experience in real estate and these specific disciplines.
