Mission-critical industrial facility in Charlotte MSA sells for $14.7M
JLL Capital Markets closed the sale of the property to STAG Industrial
CHARLOTTE, N.C., December 9, 2020 – JLL Capital Markets announced today that it has closed the $14.7 million sale of a 129,600-square-foot, Class A, mission-critical distribution and light manufacturing facility located in the Charlotte-area community of Rock Hill, South Carolina.
JLL worked on behalf of the seller, Scannell Properties. STAG Industrial, Inc. purchased the asset.
The state-of-the-art facility delivered in 2020 as a build-to-suit for DIRTT Environmental Solutions (NASDAQ: DRTT), an advanced developer and creator of highly customizable and sustainable architectural interiors. The property houses mission-critical operations for the tenant and boasts a multitude of institutional-quality features. Located on 22.06 acres at 2225 Williams Industrial Blvd., the building is within the master-planned Legacy Park East and is adjacent to Interstate 77, which provides connectivity to Interstates 485 and 85, the industrial backbone of the Southeast.
The JLL Capital Markets team representing the seller was led by Senior Director Patrick Nally and Senior Managing Director Pete Pittroff.
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 Scannell Properties
Founded 30 years ago, Scannell Properties is a privately held real estate development and investment company that focuses on build-to-suit and speculative development of industrial, office, government, and multi-family facilities throughout the U.S. and Canada. Since its inception in 1990, Scannell has completed over 358 development projects totaling 84.6 million square feet in 44 states and three Canadian provinces. In 2018, Scannell expanded their industrial development operations into Europe with an office in London, focusing on the core markets of France, Germany, Italy, the Netherlands, Spain and the U.K.
About STAG Industrial, Inc.
STAG Industrial, Inc. is a real estate investment trust focused on the acquisition, ownership and operation of single-tenant, industrial properties throughout the United States. As of September 30, 2020, the Company’s portfolio consists of 462 buildings in 38 states with approximately 92.3 million rentable square feet.
For additional information, please visit the company’s website at stagindustrial.com.