HFF announces the $32.175 million sale of Airport Distribution Center, a fully leased, five-building industrial portfolio totaling 764,582 square feet in a premier airport location in Greensboro, North Carolina.
The HFF team represented the seller, Somerset Properties and Thackeray Partners.
Situated on 40.96 acres at 202, 204, 206, 311-F and 311-G North Chimney Rock Road, Airport Distribution Center is minutes from Piedmont Triad International Airport (PTI) and the FedEx Mid-
Atlantic Hub, the carrier’s fifth largest U.S. hub. The exceptional location provides easy access to a network of interstates, including 40, 85, 73 and 74. The facilities were constructed between 1981 and 1987 and have each had significant capital improvements completed throughout the years, including ESFR sprinkler systems, T5 lighting, new dock levelers and updated office areas. Airport Distribution Center’s front-loading facilities feature pre-engineered block construction, clear heights ranging from 24 to 35 feet and rail access to 316,532 square feet of space within buildings 311F and 311G.
The HFF investment advisory team representing the seller consisted of senior managing director Chris Norvell and director Patrick Nally.
HFF is a North Carolina licensed real estate broker.