Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of a 232,000-square-foot, Class A, fully occupied distribution warehouse at 6100 Harris Technology Boulevard in Charlotte, North Carolina.
The HFF team represented the seller, Sun Life Financial / Bentall Kennedy. Hartz Mountain Industries, Inc. purchased the asset.
The front-load distribution warehouse has been institutionally owned and maintained since it was completed in 1994 and features 24-foot clear heights, truck courts up to 170 feet, 34 loading doors and an ESFR sprinkler system. Additionally, the multi-tenant building is fully leased to three tenants, including Iron Mountain (NYSE: IRM), which accounts for 72 percent of the building’s square footage. Situated on 14.36 acres within Northwoods Business Park along the Interstate 77 corridor in Charlotte’s North submarket, 6100 Harris Technology Boulevard is in a last-mile location that is approximately 10 miles from Uptown Charlotte, the area’s largest commercial hub. The property has distribution capabilities via Interstate 77, one of Charlotte’s main north-south arteries, that provides access to major transportation thoroughfares, including Interstates 40, 485 and 85, which is considered the “industrial backbone” of the Southeast.
The HFF investment advisory team representing the seller consisted of senior managing directors Chris Norvell and Ryan Clutter and director Patrick Nally.
“Investors have a virtually insatiable appetite for industrial assets in the Charlotte market, particularly Class A facilities,” Norvell said. “The investor demand and depth of the buyer pool that we’re seeing is on par with much larger Southeast markets in Atlanta and South Florida, yet there are very few product offerings to meet that demand. This bodes well for the owners and developers of industrial assets in Charlotte.”
Holliday GP Corp. (“HFF”) is a North Carolina licensed real estate broker.
About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of insurance, wealth and asset management solutions to individuals and corporate clients.
For more information, please visit www.sunlife.com/us.
About Bentall Kennedy
Bentall Kennedy, a Sun Life Investment Management company, is one of the largest global real estate investment advisors and one of North America's foremost providers of real estate services. For more information, visit www.bentallkennedy.com.
About Hartz Mountain Industries, Inc.
Hartz Mountain Industries, Inc. is one of the largest private owners of commercial real estate in the U.S. Hartz owns and manages a diversified real estate portfolio, including first-class corporate offices, warehouse and distribution facilities, hotels, multi-family developments, retail centers, movie theaters and restaurants. The portfolio includes approximately 250 properties comprising over 40 million square feet and a 225-acre land bank, primarily in New Jersey and New York City. Recent acquisitions have expanded the footprint nationally to Baltimore, Charlotte, Atlanta, Chicago, Austin and Seattle. For more information, visit http://www.hartzmountain.com.
About HFF
HFF and its affiliates operate out of 25 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.
