HFF closes $29 million sale of 2-building, 511,891-square-foot industrial complex in Charleston, South Carolina
CHARLOTTE, NC – September 7, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $29 million sale of a two-building, rail-served industrial distribution complex totaling 511,891 square feet in Charleston, South Carolina.
HFF marketed the property on behalf of the seller, Beacon Partners. CenterPoint Properties Investors purchased the asset.
North Rhett Commerce Center features up to 32’ clear heights, 44 dock-high loading doors, two drive-in doors and 20 rail doors served by an active CSX rail spur that links the property directly to the adjacent Port of Charleston North Container Terminal, the most productive port in the nation and one that can handle post-Panamax vessels. The two buildings are 81.5 percent leased to Frontier Logistics, JBE Incorporated and Wainwright Industries, Inc. Situated on 34.12 acres at 5801 North Rhett, North Rhett Commerce Center has direct access to Interstates 526 and 26 and Charleston International Airport. The complex is located in the Berkeley County submarket.
The HFF investment sales team representing the seller was led by senior managing directors Chris Norvell and Bruce Strasburg.
“Investor appetite for industrial real estate in Charleston is proving to be very robust, which is not surprising given the amazing storylines in the market,” Norvell said. “Manufacturing job growth, expanding ports and a stellar quality of life are significant green lights for national industrial investors.”
About Beacon Partners
Beacon Partners is a full-service commercial real estate firm that has developed and acquired office and industrial buildings throughout North and South Carolina for more than 25 years. Today, the company leases, owns or manages more than 10 million square feet of property. For more information, visithttp://beacondevelopment.com.
About CenterPoint Properties
CenterPoint Properties (CenterPoint) is a market leader in the development, redevelopment, acquisition and management of industrial real estate and transportation infrastructure to enhance business and government supply chain efficiency. The company invests in major coastal and inland port logistics markets anchoring North America's principal freight lanes. Visit http://centerpoint.com/ for more information.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.