Why Investors Have An Appetite For Carolina Industrial
Where are investors looking for industrial these days, especially considering the stiff competition in the largest markets (NJ, LA, Chicago)? The Carolinas, according to HFF senior managing director Chris Norvell.
“We see extremely strong demand throughout the Carolinas for industrial investment product," Chris says. That's particularly true in Charlotte, Raleigh and Greenville, SC, which boast some of the strongest fundamentals among the nation’s secondary markets. Recently, Chris led the team that repped the seller, Dalfen America Corp, of a nine-building, 100% leased industrial portfolio totaling 451k SF in Charlotte and Raleigh-Durham, as well as Greenville-Spartanburg.
MDH Partners acquired the portfolio. "The opportunity to acquire a position in each place via a 100% leased portfolio was well-received in the market,” Chris says. Six of the buildings are in the Charlotte market: the two-building, 91k SF Stuart Andrew Business Center in Charlotte, and Eagleton Downs (pictured), a four-building, 122k SF property in Pineville and Charlotte.