Northwood Investors is expanding its presence in the Sunbelt with a purchase of a 1.8 million square foot industrial portfolio.
The assets are located in Georgia, Florida, and Texas. The portfolio average lease term is seven years, with rents roughly 40 percent below the market value, according to JLL, which represented the seller on the deal and secured the financing.
The properties are:
|- Havertys Distribution Center – Braselton, Georgia
- Home Depot Cedar Port Distribution Center – Baytown, Texas
- 10000 NW 15th Terrace - Miami, Florida
"This portfolio transaction exemplifies the robust demand for well-positioned industrial assets in high-growth Sunbelt markets," Britton Burdette, senior managing director of JLL, said in a statement.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
