Mar
15

HFF Closes $10.65 Million Industrial Sale in Raleigh

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Eaton Distribution Center EmailHolliday Fenoglio Fowler, L.P. (HFF) has announced that it has closed the $10.65 million sale of Eaton Distribution Center, a 185,000-square-foot, fully-leased, Class A industrial facility in Raleigh, North Carolina.

HFF marketed the property on behalf of the seller, Chris Woody & Associates. Stoltz Real Estate Partners purchased the asset free and clear of existing debt.

Eaton Distribution Center is triple net leased to Eaton Corporation, one of the largest industrial manufacturers of power management producers in the world, as an office, distribution and repairs center. The air conditioned facility contains 163,971 square feet of warehouse space with a 24’ minimum clear height, 120’-170’ deep concrete truck courts, 23 dock-high doors and one drive-in door. Additionally, the facility has 21,029 square feet of office space. Eaton Distribution Center is situated on 23.4 acres at 8380 Capital Boulevard in the North Raleigh submarket proximate to the U.S. Highway 1/Capital Boulevard interchange, one of Raleigh’s primary transportation arteries. The facility also has immediate access to Interstate 540, providing routes to Interstates 85, 40 and 440; Raleigh-Durham International Airport and Research Triangle Park.

The HFF investment sales team representing the seller was led by senior managing director Chris Norvell, managing director Justin Good and director Scot Humphrey.

Categories : Raleigh

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