Holliday Fenoglio Fowler, L.P. (HFF) announces the $1.467 million sale of an 18.34-acre land parcel within The Park – Huntersville, a master-planned development in the North Charlotte-area community of Huntersville, North Carolina.
HFF marketed the property on behalf of the seller, Bank of America, N.A., as Trustee for the Bank of America Pension Plan, andScannell Properties purchased the asset. Scannell plans to develop an approximately 150,000-square-foot industrial flex building on the site. Earlier in 2017, Scannell purchased the adjacent 21.91-acre site from the seller to develop an R&D and manufacturing facility. This is the third land parcel that HFF has sold within The Park – Huntersville during 2017, for a total of 34.34 acres.
The Park – Huntersville is a mixed-use development with 2.6 million square feet developed, including 1.46 million square feet of office/flex space, 949,000 square feet of industrial, 125,000 square feet of retail, 560 apartment units and an estimated 6,000 daily employees in diverse industries such as healthcare, logistics and distribution, financial services, engineering and racing. Notable employers within The Park – Huntersville include Novant Health, Forbo Siegling, Joe Gibbs Racing, American Tire, General Motors Financial, Kellogg and Max Daetwyler Corporation. Located immediately off the Gilead Road exit of Interstate 77, the Charlotte region’s critical north-south connector, The Park – Huntersville provides access to Uptown Charlotte, the UNC-Charlotte/University City area and executive housing in the sought-after Lake Norman area.
The HFF investment advisory team representing the seller consisted of senior managing directors Chris Norvell and Ryan Clutter, managing director Justin Good, senior director Hunter Barron and director Sarah Godwin.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a North Carolina licensed real estate broker.
About Scannell Properties
Scannell Properties is a privately owned real estate development and investment company that has completed development projects in 44 states and three Canadian provinces focusing on both build-to-suit and speculative development. Scannell’s history of successful commercial real estate development projects over the past 25 years can be attributed to their experienced leadership, internal expertise, client-focused relationships and fiscal responsibility. For more information, visit http://www.scannellproperties. com.
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.