Fully leased logistics facility sold to Equity Industrial Partners
JLL Capital Markets closed the $11.2M sale of the Greenville, S.C., property and arranged acquisition financing for the new owner
CHARLOTTE, N.C., Jan. 14, 2021 – JLL Capital Markets announced today that it has closed the $11.2 million sale and arranged the financing for a 149,550-square-foot logistics facility fully occupied by an investment-grade tenant at 6801 Augusta Rd. in Greenville, South Carolina.
JLL worked on behalf of the seller, Dexter Companies and SilverCap Partners, and Equity Industrial Partners purchased the asset. Additionally, JLL worked on behalf of Equity Industrial Partners to source the debt.
Situated on 29.3 acres, the building is within the highly sought-after I-85 South/Donaldson Industrial submarket and adjacent to Donaldson Airport, home to South Carolina’s Technology and Aviation Center. This location off Highway 25 provides exceptional access to Interstates 26, 385 and 85, the industrial “backbone” of the Southeast. Additionally, the facility is 15 miles from the Greenville-Spartanburg International Airport and 20 miles from the SC Inland Port, which offers one-day rail access to the Port of Charleston.
The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Senior Managing Directors Pete Pittroff and Travis Anderson and Managing Directors Britton Burdette and Patrick Nally.
The JLL Capital Markets Debt Placement team representing the new owner included Managing Director Antony Cutone and Director Taylor Allison.
“The Carolinas industrial markets continue to benefit from strong investor demand, a robust lending environment and exceptional real estate fundamentals,” Pittroff said.
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 delivers 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 $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Dexter Companies
Dexter Companies is a developer and operator of industrial warehouse, distribution and office parks focused on the Southeastern United States. Founded in 1973 and based in Atlanta, the firm has been providing opportunistic investments and developments to their institutional and family office partners.
About SilverCap Partners
SilverCap Partners is a Charlotte-based real estate private equity firm focused on investments within the Southeastern United States. The firm's expertise crosses multiple property sectors with a predominant concentration on industrial, residential and retail investments. SilverCap places a priority on opportunities where a combination of capital and operational expertise can serve as a positive catalyst for future value.
About Equity Industrial Partners
Equity Industrial Partners (EIP) is a privately held developer and operator of industrial warehouse, distribution, and office facilities throughout the United States. Since the firm’s inception in 1995, EIP has acquired and developed over 100 million square feet of commercial and industrial properties. As a fully integrated real estate company, EIP also manages over 21 million square feet of property, providing a full range of leasing and property, facilities and construction management services for its owned portfolio and select third-party clients.