HFF announces the sale of Newton Way Industrial Center, a 451,370-square-foot, Class A distribution and manufacturing facility in the Charleston-area community of Summerville, South Carolina.
The HFF team represented the seller, Gramercy Property Trust.The property, which was vacant at the time of sale, was purchased by a user for occupancy.
Situated on 42.96 acres at 1116 Newton Way, Newton Way Industrial Center is positioned along Interstate 26 equidistant from the Port of Charleston and Interstate 95, which allows the property to service the entire East Coast within two days. Additionally, the facility is about 22 miles from Charleston International Airport. The building was completed in 2007 and features institutional design characteristics, including 30-foot clear heights, 17,900 square feet of office space, 37 dock-high loading doors and 22 drive-in doors, parking and storing for up to 100 trailers and 513 employee parking spaces. The property has Foreign Trade Zone status, which provides tenants with the ability to facilitate international mercantile activity if needed.
The HFF investment advisory team representing the seller consisted of senior managing director Chris Norvell and director Patrick Nally. The user-buyer was represented by CBRE brokers Bob Barrineau and Brendan Redeyoff.
About Gramercy Property Trust
Gramercy Property Trust is a leading global investor and asset manager of commercial real estate. The company specializes in acquiring and managing high quality, income producing commercial real estate leased to high quality tenants in major markets in the United States and Europe. Learn more at gptreit.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.
