Charlotte-area distribution facility sells to local investor
JLL Capital markets completed the sale of the 43,700-SF Rock Hill property to Charlotte-based Collett Capital
CHARLOTTE, N.C., May 11, 2021 – JLL Capital Markets announced today that it has closed the sale of a 43,700-square-foot distribution and storage facility net leased to Integrated Power Services, LLC and located at 1332 Fire Tower Rd. in the Charlotte-area community of Rock Hill, South Carolina.
JLL worked on behalf of the seller, AIC Ventures. Charlotte-based Collett Capital purchased the asset.
The mission-critical facility is fully leased to Integrated Power Services, which is a Greenville, S.C.-based company that provides repair services and distribution for continuous process industries. The facility is the gateway to the company's coast-to-coast network, serving Integrated Power Services’ clients with highspeed local delivery 24/7.
The JLL Capital Markets team representing the seller was led by Senior Managing Director Pete Pittroff, Managing Director Patrick Nally, Associate Dave Andrews and Analyst Michael Scarnato.
“1332 Fire Tower Rd. is strategically located in a high-growth corridor in the Charlotte Industrial market,” Pittroff said. “The facility has outstanding infrastructure and abundant outside storage, which is in extremely high demand. JLL would like to thank AIC for the opportunity to work on their behalf and Collett Capital for working through this process smoothly with zero hiccups.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge deliver the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About AIC Ventures
AIC Ventures is a private real estate investment firm with a 31-year track record specializing in the acquisition, management, and sale of industrial real estate properties via sale-leasebacks and existing net-lease investments throughout the United States. Entering its fourth decade, AIC Ventures remains steadfast in its commitment to developing long-term relationships with its tenants, partners and investors.
About Collett Capital
Based in Charlotte, North Carolina, Collett Capital is a real estate private equity firm with over $280 million in assets under management. The firm is focused on acquiring well-located, income producing real estate assets with durable cash flows and upside potential. Through its real estate funds, the firm acts as a sponsor, operating partner and co-investor alongside its institutional and private capital partners.