Sunday, July 7, 2019

HFF announces $49 million sale of 670,536-SF industrial portfolio in Greensboro, NC

4755 McConnell Center Drive, Greensboro NC

CHARLOTTE, NC –– HFF announces the $49.3 million sale of a three-building industrial portfolio totaling 670,536 square feet located in the Triad region of North Carolina. The sale represents the first tranche to close of a larger 1.1 million-square-foot portfolio.

Patrick Nally
HFF, along with Triad Commercial, represented the seller, McConnell Center Associates.  New York Life Insurance Company purchased the assets. 

The first tranche includes three buildings in McConnell Center, a Class A, master-planned industrial park totaling over 1 million square feet at the intersection of Interstates 85 and 40, two of the country’s top industrial arteries. 

 McConnell Center has attracted an outstanding credit tenant roster that includes General Dynamics (NYSE:GD), Performance Food Group (NYSE:PFGC), Wayfair (NYSE:W), and Coca-Cola Bottling (NASDAQ:COKE). 

Situated at 4751, 4755 and 4754 McConnell Center Drive, the buildings are in the SE Guilford County Industrial submarket, an extremely tight submarket that is 97.5% occupied. 

Chris Norvell
The properties are approximately 20 miles from Piedmont Triad International Airport and the FedEx Mid-Atlantic Hub, the carrier’s fifth largest U.S. hub.

The HFF investment advisory team representing the seller consisted of director Patrick Nally and senior managing director Chris Norvell along with Tom Townes and John Schultz with Triad Commercial.

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

About McConnell Center Associates

McConnell Center Associates is an affiliation of North Carolina LLCs led by long-time local developer, Pete Goria in partnership with Buddy Seymour of Windsor Commercial. 

Tom Townes

Pete Goria has a track record of developing and delivering successful industrial projects in the Triad area during a career spanning more than 50 years.

About New York Life Insurance Company

New York Life Insurance Company (, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world.

Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance.

John Schultz
 New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies**.

About Triad Commercial

Triad Commercial Properties, LLC, founded in 1999, is a full service industrial and office brokerage firm with offices in both Greensboro and Winston-Salem, North Carolina.

 The firm has handled the marketing of McConnell Center since the inception of the first building in 2007.


NC Lic. # 282053
HFF Director
(919) 573-4649

NC Lic. #240226
HFF Senior Managing Director
(704) 526-2800

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