Single-tenant distribution facility trades at Metrolina Park
JLL Capital Markets closed the sale of the new industrial property to global asset manager DWS on behalf of Beacon Partners
CHARLOTTE, Dec. 15, 2021 – JLL Capital Markets announced today that it has closed the sale of a new, Class A+, 644,171-square-foot, single-tenant distribution facility 100 percent leased to a credit tenant at Metrolina Park in Charlotte, North Carolina.
JLL marketed the property on behalf of the seller, Beacon Partners. DWS, one of the world’s leading asset managers, acquired the asset.
Completed in 2021, a multi-national transportation and logistics company occupies the building and uses it to serve its mission-critical, last-mile delivery network. The building is situated on Gibbon Road in an infill position adjacent to I-77 and with easy access to I-85 and I-485. This location allows the tenant to reach the entire Charlotte MSA and surrounding regions. The facility is within the award-winning Metrolina Park, a master-planned industrial park developed by the seller.
Charlotte is experiencing massive growth and has emerged as a major East Coast logistics hub. According to JLL Research, logistic companies accounted for more 1.2 million square feet in leasing activity the third quarter of 2021 in the Charlotte Industrial market. Additionally, high demand for e-commerce and distribution centers, coupled with the region’s steady population growth, makes Charlotte a prime location for both tenants and investors.
The JLL Capital Markets team representing the seller was led by Senior Managing Director Pete Pittroff; Managing Director Patrick Nally and Director Dave Andrews.
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 and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 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 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Beacon Partners
Beacon Partners is a Charlotte-based commercial real estate firm specializing in the development, leasing and management of office and industrial properties. Beacon leases, owns or manages more than 10 million square feet of office and industrial space throughout the Carolinas. For more information on Beacon Partners and its properties, please visit beacondevelopment.com or call (704) 597-7757.
About DWS Group
DWS Group (DWS) is one of the world's leading asset managers with USD 1 trillion of assets under management (as of 30 September 2021). Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.
DWS offers private individuals and institutions access to its high-performance investment expertise in all important investment categories as well as solutions that are geared towards growth trends. The firm’s extensive expertise as an asset manager in the active, passive and alternative business as well as its strong focus on the sustainability aspects of the environment, social affairs and good corporate governance complement each other in the development of targeted solution concepts for its customers. The in-depth know-how of DWS economists, research analysts and investment professionals is summarized in the global CIO View, which serves as a strategic guideline for its investment approach.
DWS wants to shape the future of investing. Thanks to its around 3,500 employees at locations around the world, DwS has a local presence and at the same time form a global team. DWS are investors – with the task of creating the best basis for the future of our customers.