1.33 Million SF Industrial Portfolio Sold in NC


sold signsSparrowHawk Holdings-PowerOne LP is pleased to announce the acquisition of a three building, 1.33 million square foot portfolio in North Carolina from an entity controlled by GE. The portfolio is comprised of Class A bulk warehouse and distribution facilities and is 100% leased to strong credit tenants listed on the NYSE, including Proctor & Gamble, Sonoco Display and Packaging and MWI Veterinary Supply, Inc. (soon to be acquired by AmerisourceBergen).

The properties are strategically located in North Carolina’s Piedmont Triad (Greensboro, Winston-Salem and High-Point), a region well known for its pro-business fundamentals and strong growth, and are within one mile of Proctor & Gamble’s manufacturing facility at Browns Summit, slated for a $100 million expansion.

The acquisition was completed in partnership with Pure Industrial Real Estate Investment Trust, an unincorporated, open-ended investment trust that owns and operates a diversified portfolio of income-producing industrial properties in leading markets and trades on the TSX.

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