HFF closes sale of 9-building, 451,213-square-foot industrial portfolio in the Carolinas
CHARLOTTE, NC – September 1, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of a nine-building, 100-percent-leased industrial portfolio totaling 451,213 square feet in Charlotte and Raleigh-Durham, North Carolina, and Greenville-Spartanburg, South Carolina, markets.
HFF marketed the property on behalf of the seller, Dalfen America Corp. MDH Partners, LLC purchased the portfolio.
The portfolio comprises Stuart Andrew Business Center, Eagleton Downs, Airport Distribution Center and Matrix Business Center. Six of the portfolio buildings are in the Charlotte market; the two-building, 91,320-square-foot Stuart Andrew Business Center is located at 4216 Stuart Andrew Boulevard and 646 Michael Wylie Drive (Charlotte), and Eagleton Downs, a four-building, 122,940-square-foot industrial center at 520, 521 and 601 Eagleton Downs Drive (Pineville) and 10401 John Price Road (Charlotte). Airport Distribution Center, a Class A, two-building, 165,144-square-foot property, is located at 5101 and 5151 Nelson Road in the Raleigh-Durham-area community of Morrisville, North Carolina. Matrix Business Center is a 71,809-square-foot, one-building, Class A warehouse building at 500 Matrix Parkway in Piedmont, South Carolina, near Greenville-Spartanburg. The portfolio is home to 13 tenants, including Professional Builders Supply, LLC; General Electric Company; Worldpac, Inc. and S&N Communications, Inc. Located along the main southeastern distribution corridor, the buildings are adjacent to major roadways, including Interstates 85, 40 and 77.
The HFF investment sales team representing the seller was led by senior managing director Chris Norvell.
“We continue to see extremely strong demand for industrial investment product throughout the Carolinas,” Norvell said. “This is particularly true in Charlotte, Raleigh and Greenville, which boast some of the strongest fundamentals among the nation’s secondary markets. The opportunity to acquire a position in each market via a 100-percent-leased portfolio was well received in the market.”
About Dalfen America Corp.
Dalfen America Corp. (DAC) is a leading industrial real estate investment manager and hands-on real estate operator that is focused on acquiring, developing and managing industrial real estate throughout the United States. DAC currently owns and manages millions of square feet of premier commercial properties in the Unites States and in Canada through its Canadian counterpart, Dalfen’s Limited. For more information, visit www.dalfen.com.
About MDH Partners, LLC
MDH Partners, LLC is an Atlanta-based real estate investment company with a portfolio of over eight million square feet of properties, across seven states from Virginia to Florida. With its current institutional investors, the company seeks to double its size over the next two years through the acquisition and development of industrial facilities throughout the Southeast. Visit www.mdhpartners.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.
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a North Carolina licensed real estate broker.