Saturday, June 29, 2019

HFF announces $4.3 million sale-leaseback of single-tenant industrial facility near Charlotte, NC


Tracey Goo

CHARLOTTE, NC –– HFF announces the $4.3 million sale-leaseback of a 110,000-square-foot industrial facility that is triple net leased to Keywell Metals in the suburban Charlotte community of Matthews, North Carolina. 

Maxx Carney
The HFF team represented the seller, Prophet Equity, a Southlake, Texas-based private equity firm that acquired Keywell Metals in 2014.  AIC Ventures purchased the asset. 

The facility is the mission-critical processing facility and headquarters for Keywell Metals, a metalworks company that is a leading supplier of recycled titanium, high-temperature alloys and stainless steel. 

Situated on 7.45 acres at 1035 Commercial Drive, the facility is in Matthews, one of Charlotte's most densely populated and well-established residential suburbs. 

The property is adjacent to a CSX rail line and has immediate access to Interstate 485, a major loop encircling Charlotte, and U.S. Route 74, a main artery connecting Ashville, Charlotte and Wilmington. 

Kenny Cutler
Additionally, it is 22 miles from Charlotte Douglas International Airport and 7.2 miles from Charlotte-Monroe Executive Airport.

The HFF investment advisory team representing the seller was led by directors Tracey Goo and Maxx Carney, associate Mike Massardo and real estate analyst Kenny Cutler, along with senior managing director Christopher Norvell.

“The Matthews facility is a very strategic location for Keywell, and it is critical for their business operations that they remain at the property in a long-term lease with renewal options,” Goo said. 

Chris Norvell

“We anticipate we will continue to see more and more sale-leaseback transactions nationally, as corporate owner/users of well-located facilities seek to take advantage of investors’ strong appetite for industrial product.”

“The Matthews facility is a key part of the Keywell strategy for growth and delivery of value to our customers,” said David Rex, managing director and general counsel for Prophet Equity. 

“With HFF’s deep expertise and business-focused guidance, Keywell was able to successfully execute a very complicated sale-leaseback transaction on market-based terms.  We couldn’t be more pleased.”

Holliday GP Corp. (“HFF”) is a North Carolina licensed real estate broker.

CONTACTS:

TRACEY GOO
HFF Director
(310) 407-2100

CHRISTOPHER NORVELL, SIOR
NC Lic. #240226
HFF Senior Managing Director
(704) 526-2800

KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420



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