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| 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.
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| Patrick Nally |
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.
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| Chris Norvell |
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.
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| 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 (www.newyorklife.com),
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.
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**.
Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance.
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| John Schultz |
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.
The firm has handled the marketing of McConnell Center since the inception of the first building in 2007.
CONTACTS:
PATRICK NALLY
NC Lic. # 282053
HFF Director
(919) 573-4649
CHRISTOPHER NORVELL, SIOR
NC Lic. #240226
HFF Senior Managing Director
(704) 526-2800
KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420