Aug
22

Fort Mill Distribution Center Under Contract

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On or about August 12, 2013, One Liberty entered into an agreement with DK Fort Mill LLC and DK Distribution LLC to purchase an approximately 700,000 square foot industrial facility located at 1850 Banks Road, Fort Mill, South Carolina for approximately $39 million ($55.71/sf). One Liberty anticipates that at least 50% of the purchase price will be financed with mortgage debt.

The property is leased until 2029 to Northern Tool & Equipment Company, Inc. and Northern Tool & Equipment Catalog Company, Inc. and serves as a principal distribution center for the tenants’ products, which include industrial grade and personal use power tools and equipment. The closing of this transaction is subject to customary closing conditions, including completion of a satisfactory due diligence review.

 

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    Categories : Rock Hill

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