Boston Firm Acquires Industrial Buildings in North Carolina

Framingham, MA – SVN | Parsons Commercial Group | Boston announced that it has acquired a collection of 22 industrial buildings totalling 1,551,486 sq. ft., located along Interstate 40/Interstate 85 in the greater Charlotte, N.C. and Triad regions. The final sales price was $86.6 million.

The portfolio was acquired by the firm and its partnership team that included John Parsons, Victor Galvani, Andrew Sacher and Steffen Panzone. Cushman & Wakefield’s Nolan Ashton, Rob Cochran and Bill Harrison represented the seller in the transaction. Tom Sullivan, Richard Henry and Ross Fishman of Cushman & Wakefield also secured the buyer’s financing, and the firm has been retained to handle leasing efforts for the portfolio, which will be led by Bobby Finch.

The North Carolina Interstate 40/Interstate 85 Industrial Portfolio includes:

● Nine buildings in Winston-Salem located at 4303 Idlewild Industrial Dr., 4965 Indiana Ave., 5160-5190 Indiana Ave., 4320 Enterprise Dr., 4415 Providence Ln. and 1330 Ivy Ave.
● Four buildings in Clemmons located at 6220-6295 Clementine Dr.
● Single building in Lexington located at 111-113 Woodside Dr.
● Single building in Salisbury located at 1335 Litton Dr.
● Seven buildings in the Hickory region located at 1523/1527 7th St. SE, 2309 N College Ave., 2855-2859 Nathan St. and 2875 Nathan St.

The portfolio was 98% leased at the time of sale to a strong tenant roster. All buildings feature rear loading docks, office space, clear heights up to 29 feet and near immediate access to Interstate 40, Interstate 85 and US Highway 52.