Dalfen America Sells 9-Building Carolinas Portfolio
- Sep 08, 2016
Charlotte, N.C.—MDH Partners LLC is the new owner of a nine-building, 100 percent-leased industrial portfolio totaling 451,213 square feet. The properties are located in Charlotte and Raleigh-Durham, N.C., and Greenville-Spartanburg, S.C.
The properties include Stuart Andrew Business Center, Eagleton Downs, Airport Distribution Center and Matrix Business Center.
Six of the buildings are situated in the Charlotte market, including: the two-building, 91,320-square-foot Stuart Andrew Business Center, which is located at 4216 Stuart Andrew Blvd. and 646 Michael Wylie Drive (Charlotte); and Eagleton Downs, a four-building, 122,940-square-foot industrial center at 520, 521 and 601 Eagleton Downs Drive (Pineville) and 10401 John Price Road (Charlotte).
Properties in the Raleigh-Durham area include: Airport Distribution Center, a Class A, two-building, 165,144-square-foot property, located at 5101 and 5151 Nelson Road in Morrisville, N.C.; and Matrix Business Center, a 71,809-square-foot Class A warehouse building at 500 Matrix Parkway in Piedmont, S.C., near Greenville-Spartanburg.
The portfolio is home to 13 tenants, including Professional Builders Supply LLC; General Electric Co.; Worldpac Inc.; and S&N Communications Inc.
All of the buildings are located along the main southeastern distribution corridor, in proximity to major roadways, including Interstates 85, 40 and 77.
Chris Norvell, senior managing director, led the HFF investment sales team representing the seller.
“We continue to see extremely strong demand for industrial investment product throughout the Carolinas,” Norvell said in prepared remarks. “This is particularly true in Charlotte, Raleigh and Greenville, which boast some of the strongest fundamentals among the nation’s secondary markets. The opportunity to acquire a position in each market via a 100 percent-leased portfolio was well received in the market.”
Image courtesy of Dalfen America Corp.