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| Matt Wirth, |
ATLANTA, GA – JLL Capital
Markets announced it has closed the sale of PVH Distribution Center, a
fully leased, 851,349-square-foot, Class A warehouse and distribution facility
leased to an investment-grade tenant in the metro Atlanta community of
McDonough, Georgia.
JLL marketed the property on behalf of the seller. FHR
Capital, LLC, on behalf of an unnamed institutional investor, purchased the
asset.
Completed in 2006, PVH Distribution Center is triple net
leased to PVH Corp. (NYSE: PVH), one of the largest fashion and lifestyle
companies in the world with $9.7 billion in revenue in 2018 and a current
investment grade credit rating of Baa3 'Stable' from Moody’s.
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| Dennis Mitchell |
Situated
at 127 Liberty Industrial Parkway, PVH Distribution Center is 37 miles
southeast of downtown Atlanta and adjacent to Interstate 75, one of Atlanta’s
critical industrial corridors.
The
property’s McDonough location allows it to draw from a strong local labor force
and provides easy access to Hartsfield-Jackson Atlanta International Airport,
which is 23 miles away, and the Port of Savannah, which is 218 miles away. PVH
has occupied the facility since 2010.
The JLL Capital Markets team representing the seller was led
by Matt Wirth, Dennis Mitchell, Britton Burdette and Crosby Taylor.
“This transaction is really a testament to the quality of
buyer and seller involved,” Wirth said. “Each side navigated the current market
conditions with a collaborative and sensible mindset and executed flawlessly to
bring the transaction to fruition.”
 |
| Britton Burdette |
JLL Capital Markets is a full-service global provider of
capital solutions for real estate investors and occupiers.
The firm's in-depth local market and global
investor knowledge delivers the best-in-class solutions for clients — whether
investment advisory, debt placement, equity placement or a recapitalization.
The
firm has more than 3,700 Capital Markets specialists worldwide with offices in
nearly 50 countries.
For more news, videos and research resources on JLL, please visit
the firm’s U.S. media center Web page: U.S. newsroom.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that
specializes in real estate and investment management.
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| Crosby Taylor |
JLL shapes the future of
real estate for a better world by using the most advanced technology to create
rewarding opportunities, amazing spaces and sustainable real estate solutions
for our clients, our people and our communities.
JLL is a Fortune 500 company
with annual revenue of $18.0 billion, operations in over 80 countries and a
global workforce of more than 94,000 as of March 31, 2020.
JLL is the brand
name, and a registered trademark, of Jones Lang LaSalle Incorporated. For
further information, visit jll.com.
CONTACT:
Kimberly
Steele
JLL Senior Associate
Public Relations
Phone: +1 713 852 3420
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