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SVN Parsons Commercial Group Buys $87M Industrial Portfolio in NC
Cushman & Wakefield has arranged the $86.6-million sale of an industrial portfolio comprising 22 buildings within greater Charlotte and the Piedmont Triad area of NC. The 1.6-million-square-foot, 98%-leased portfolio was acquired by Framingham, MA-based SVN Parsons Commercial Group.
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.
“This portfolio spans across two booming regions in NC and provides immediate scale and upside with rents that are approximately 25% below market,” said Ashton.
The portfolio includes:
- Nine buildings in Winston-Salem
- Seven buildings in Hickory
- Four buildings in Clemmons
- One building in Lexington
- One building in Salisbury
- ◦Sale/Acquisition
