INDUS Realty Belief has bought a majority curiosity in a 4.3 million-square-foot industrial portfolio, comprising 21 buildings in Charlotte, N.C., and Charleston, S.C. Childress Klein owns The Carolinas Portfolio, now valued at $575 million.
The acquisition recapitalizes about one third of CK’s 13.2 million-square-foot logistics stock. The agency retained a minority possession stake and can proceed to handle and lease the amenities.
Eastdil Secured labored on behalf of Childress Klein in arranging the transaction.
READ ALSO: ‘Huge D’ Industrial Stays on High
The Carolinas Portfolio contains 16 buildings in Charlotte and 5 in Charleston and consists of last-mile, regional and bulk logistics properties. The buildings and particular person tenant suites common 205,000 and 78,000 sq. toes, respectively, and had been 94 p.c leased on the time of the deal. The property carry a weighted common age of 13 years.
One of many properties within the portfolio is Nevada Enterprise Park, a three-building campus totaling 319,500 sq. toes. It options rear- front-loading configurations. The virtually 32-acre park got here on-line final 12 months and is at 2011, 2101 and 2121 Nevada Blvd.
INDUS’ latest industrial enlargement
INDUS at the moment owns or has majority possession in industrial properties and developments totaling 13.6 million sq. toes. The corporate’s property are in North Carolina, South Carolina, Connecticut, Pennsylvania, Florida, Georgia, Arizona and Tennessee.
Final month, INDUS entered the Phoenix market with the acquisition of Phoenix Airport Logistics, a 393,484-square-foot warehouse for $72.4 million. The constructing got here on-line in 2016 and, on the time of sale, was leased to 5 tenants.
Earlier this 12 months, the agency additionally acquired Primark at Imeson Park, a 550,243-square-foot facility in Jacksonville, Fla., from VanTrust Actual Property. Primark makes use of the ability as its second distribution heart within the U.S. and the primary within the state.