Atlanta & Southeast News In Your Inbox
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Pacer, Drake JV Claims 1.5M-SF North Carolina Distribution Facility
A joint venture between Pacer Partners and Drake Real Estate Partners acquired a 1.5-million-square-foot industrial building in Greensboro, NC from Greensboro Lease Management, L.L.C. for an undisclosed amount. The distribution and warehouse building, located at 300 Penry Rd., is one of the largest distribution facilities in North Carolina and is fully-leased to Kmart Corp/Sears. NFI Industries, a leading international third-party logistics provider, subleases the entire building.
Cushman & Wakefield’s Rob Cochran, Jared Londry, Nolan Ashton, Stewart Calhoun, and Casey Masters represented the seller.
Cochran says, “Given its location in the center of North Carolina with easy access to I-85 and I-40, this distribution center is the perfect solution for large users like Kmart/Sears, the original tenant, and NFI, the subtenant, to access the Mid-Atlantic markets.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition