HFF announces the $6.7 million sale of a 107,480-square-foot, fully occupied, industrial building located at 4160 Mendenhall Oaks Parkway in North Carolina’s Greensboro-Winston Salem-High Point area, which is known as the Piedmont Triad (or Triad).
The HFF team represented the seller, a partnership between a private company and Somerset Properties. Dalfen America Corp.purchased the asset.
The multi-tenant building serves as the headquarters for two of the three tenants. The building was constructed in 1997 and features 24-foot clear heights, 16 dock-high positions, two drive-in doors and the ability to add additional loading via 14 knock-out panels. The 4160 Mendenhall Oaks Parkway building is situated within the master-planned Mendenhall Business Park, which is located near a network of major transportation thoroughfares, including Interstates 40, 73 and 85, which is the industrial backbone of the Southeast. Additionally, the building is centrally positioned within the Airport/West Guilford submarket, the largest and most sought after industrial submarket in the Triad, and less than 10 miles from the Piedmont Triad International Airport.
The HFF investment advisory team representing the seller consisted of senior managing director Chris Norvell and director Patrick Nally. HFF is also representing the seller in marketing the remainder of Mendenhall Business Park, which consists of four single-story office buildings and two multi-story office buildings.
“The Greensboro area has excellent fundamentals, and we intend to actively expand our footprint in this market as well as the Carolinas” said Sean Dalfen, president and CIO of Dalfen America Corp.
Holliday GP Corp. (“HFF”) is a North Carolina licensed real estate broker.
About Somerset Properties
Somerset Properties is a Philadelphia based full-service real estate firm that owns and operates 6.5 million square feet of commercial real estate properties in the eastern United States. Somerset Properties has been delivering first-class real estate services to its clients and above market returns to its investors for over 30 years. Visit http://somprop.com for more information.
About Dalfen America Corp.
Dalfen America Corp. (DAC) is one of the nation’s largest buyers of industrial real estate and a leader in the urban logistics’ property space. Their investment focus is on strategically located infill and last mile oriented warehouses, logistics centers, multi-tenant business parks and light industrial facilities. DAC currently owns and manages millions of square feet of premier industrial properties throughout the Unites States and in Canada. For more information, visit http://www.dalfen.com.
About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
