Monday, January 18, 2016

Sale of 2-building, 252,330-square-foot New Hope Commerce Center in Raleigh, NC closed by HFF team

Chris Norvell
 CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced its Carolinas investment sales team has closed the $21.2 million sale of New Hope Commerce Center, a two-building, Class A+, 100-percent-leased industrial portfolio totaling 252,330 square feet in Raleigh, North Carolina.

HFF senior managing director Chris Norvell, formerly of Cushman & Wakefield Thalhimer, represented Brookwood Capital Partners in the sale of the buildings to Stockbridge Real Estate.

New Hope Commerce Center’s two buildings are located at 4200 and 4205 Global Street in the East Wake submarket. 

The center is situated on 26.69 acres just south of the convergence of Interstates 495 and 440, providing access to the major distribution corridors in the Southeast.  The buildings feature 120’ to 132’ deep truck courts with 60’ concrete aprons, 60’ deep bays and 28’ to 30’ minimum clear heights.

 Owens & Minor, a medical and surgical supplies distributor and healthcare supply-chain management solutions provider, leases the 151,135-square-foot 4200 Global building as its primary distribution facility for the eastern part of the Carolinas, and TBC Corporation, the largest subsidiary of Sumitomo Corporation, leases the 101,195-square-foot 4205 Global Street property. 

“We continue to see growing interest from institutional level buyers in the Raleigh-Durham industrial market,” Norvell said.  “Strong fundamentals in the market, particularly exponential rent growth, will make the Raleigh region a hot commodity going into 2016.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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