HFF announces $30.5M sale of 350,856 SF industrial facility near Charleston, South Carolina
CHARLOTTE, NC – May 31, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $30.5 million sale of a 350,856-square-foot, newly constructed, fully occupied, state-of-the-art industrial facility in the north Charleston suburb of Hanahan, South Carolina.
The HFF team represented the seller, SunCap Property Group and WestRock. Stockbridge Capital Group purchased the asset.
Completed in 2016, the industrial facility features institutional-quality design standards, including ESFR fire protection, 32-foot clear heights, LED lighting, 180-foot deep truck courts and on-site trailer storage. The cross-dock facility is fully leased to AmerCare and ManTech International. Situated at 1025 North Pointe Industrial Road, the property is in the Hanahan/North Rhett submarket and is equidistant to both Interstates 26 and 526. The facility is five miles from the Port of Charleston’s North Charleston terminal, 14 miles from the Wando Welch container terminal and nine miles from Charleston International Airport.
The HFF investment advisory team representing the seller consisted of senior managing director Chris Norvell and director Patrick Nally.
“This transaction demonstrated that there is an extraordinary level of interest in the Charleston market from industrial real estate investors,” Norvell said. “The level of institutional buyers looking to enter the market is impressive.”
“The Hanahan/North Rhett submarket, and specifically North Pointe Commerce Park, has proven itself to be one of the preeminent defense and port-related industrial locations in the region,” Nally added. “Investors see a fundamentally strong, land-constrained submarket that is well-positioned to benefit from the region’s rapidly expanding industrial sector.”
Stockbridge Capital Group (stockbridge.com) is real estate investment management firm headquartered in San Francisco, California with offices in New York, Chicago and Atlanta. The firm’s portfolio is comprised of assets across the risk spectrum, spanning all major property types throughout the United States. As of September 30, 2017, the firm’s total assets under management was $11.1 billion.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.