Raleigh Last Mile Warehouse Sale Close



RALEIGH, NC, November 5, 2021 – JLL Capital Markets today announced the closing of the sale of South 40 Distribution Center, a 502,495 square foot multi-tenant distribution facility located in Raleigh, North Carolina.

JLL marketed the property on behalf of the seller, LM Real Estate Partners. Pennybacker Capital acquired the asset.

“We are excited to enter the Raleigh industrial market,” said Edvin Beasley of Pennybacker Capital, Managing Director and Portfolio Manager of Pennybacker’s Value Funds. “With the close proximity to the larger MSA and the long-term optionality of the investment, we believe the property meets a growing need for infill industrial space and is well positioned to participate in both short and long term growth. term of Raleigh and surrounding markets. ”

The JLL Capital Markets team representing the seller was led by Managing Director Patrick Nally, Senior Managing Director Pete Pittroff, Director Dave Andrews and Analyst Michael Scarnato.

JLL Capital Markets is a global full service provider of capital solutions for real estate investors and occupiers. The company’s in-depth knowledge of the local market and global investors provides the best solutions for clients – whether it is investment sales and advice, debt advice, equity advice or recapitalization. The company has more than 3,000 capital markets specialists around the world with offices in nearly 50 countries.

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Disclaimer

Jones Lang LaSalle inc. published this content on 08 November 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on November 08, 2021 02:37:03 PM UTC.


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