HFF Closes Sale of 1 MSF NC Facility

The RSI Distribution Center in Lincoln County recently traded for $56 million.

By Laura Calugar

Aerial view of the RSI Distribution Center in Charlotte, N.C.
Aerial view of the RSI Distribution Center in Charlotte, N.C.

Charlotte, N.C.—HFF recently announced the sale of the RSI Distribution Center, a 1 million-square-foot Class A facility in the community of Lincolnton, N.C. According to the Charlotte Business Journal, the property was sold by 838 Lincoln County Parkway LLC for $56 million to a private investor. The HFF investment sales team was led by senior managing director Chris Norvell and associate director Patrick Nally.

Situated on 82 acres at 838 Lincoln County Parkway, the RSI Distribution Center is part of the 680-acre, 4.4-million-square-foot Lincoln County Industrial Park. The park is near the junction between Interstates 85 and 40, on the U.S. Highway 321 Inter-Connector. Located in the northern part of the Charlotte MSA, the property offers direct access to the Southeast and Mid-Atlantic main population centers and primary distribution channels.

Completed in 2004, the facility has been expanded three times since 2005, including a 225,000-square-foot addition in 2014. The building features tilt-up concrete exterior panels, 30-foot clear height, 130-foot truck courts in the front, 180-foot truck courts in the rear, 88 dock doors, four overhead drive-in doors, 7,500 square feet of office space and 155 dedicated trailer storage positions on site. RSI Distribution Center includes the possibility of an additional 141,000 square feet.

The industrial facility is fully leased on a triple net basis through August 2029 to RSI Home Products Inc., a manufacturer of kitchen, bath and home storage cabinets. In 2015, the industrial facility sold for roughly the same amount to New Jersey-based Hartz Mountain Industries Inc.

Image courtesy of HFF