CBRE Arranges NC Industrial Sale
- Mar 04, 2019
CBRE has brokered the $9 million sale of FedEx Ground Terminal, an 89,828-square-foot, build-to-suit asset in Mills River, N.C. CBRE Executive Vice Presidents Patrick Gildea and Randy Getz, Senior Associate Matt Smith and Senior Financial Analyst Grayson Hawkins worked on behalf of the sellers. The buyer was a Florida-based entity connected to Toth Realty.
The property is located at 99 Broadpointe Drive, less than 2 miles from Asheville Regional Airport and adjacent to Highway 280, providing quick access to Highway 191 and interstates 26 and 40. Built in 2006, the terminal has been fully leased to FedEx Ground Package System ever since.
“Industrial distribution continues to be the hottest product type for institutional investment in today’s market, even in tertiary locations,” said Gildea in a prepared statement.
The industrial sector is thriving across the U.S. and the Southeast is no stranger to nationwide trends, according to a recent CBRE study of 18 cities in the region.
Image courtesy of CBRE
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