Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $41 million sale of Charleston Gateway Distribution Center, a 615,650-square-foot, 100-percent-leased, Class A warehouse, distribution and freezer storage complex in the Charleston-area community of Summerville.
HFF marketed the property on behalf of the seller, J.L. Woode, ltd. CenterPoint Properties purchased the asset.
Charleston Gateway Distribution Center comprises 473,124 square feet of bulk warehouse space, 121,466 square feet of state-of-the-art freezer/cold storage space and 21,060 square feet of truck maintenance and storage. The three-building complex features up to 42’ clear heights, 64 dock high loading positions, a deep 205’ truck court with a 60’ concrete apron and 94 designated trailer storage spaces. The two buildings are full leased to Zinus, Inc.; Argo Merchants Group and H&E Equipment Services. Situated on 109 acres at 1125 Newton Way, Charleston Gateway Distribution Center is positioned adjacent to Interstate 26, which has connectivity to the region’s major thoroughfares, sea and air terminals. The Port of Charleston North Container Terminal, the most productive port in the nation and one that can handle post-Panamax vessels, is approximately 30 miles from the property.
The HFF investment sales team representing the seller was led by senior managing director Chris Norvell.
“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 J.L. Woode, ltd.
J.L. Woode, ltd. Is a privately owned investment and real estate development company with offices in Chicago, Illinois, and Charleston, South Carolina. J.L. Woode, ltd. Investments are currently concentrated in the Southeast and Midwest regions of the United States, in addition to an international presence in Costa Rica. The company’s diverse portfolio includes over 10 million square feet of multi-family, hospitality, office and industrial facilities and land development, which the company owns, operates and manages. For more information, visit http://www.jlwoode.com.
About CenterPoint Properties
CenterPoint Properties is focused on the development, acquisition and management of industrial property and transportation infrastructure that enhances business and government supply chain efficiency. The company invests in major coastal and inland port logistics markets anchoring North America’s principal freight lanes. CenterPoint‘s portfolio includes 56.3 Million square feet and 3,449 acres under development in the company’s integrated intermodal industrial parks. For more information on CenterPoint Properties, visitwww.centerpoint.com or follow @centerpointprop on Twitter.
About HFF
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.
