Jones Lang LaSalle Inc.
11/26/2024 | Press release | Distributed by Public on 11/26/2024 09:31
Class A distribution facility in Charleston, SC changes hands
CAROLINAS, Nov. 26, 2024 - JLL Capital Markets announced today the sale of Jedburg Logistics Park - Building 2, a 158,340-square-foot Class A last-mile distribution facility in Summerville, South Carolina.
The JLL Investment Sales and Advisory team worked on behalf of the seller, a partnership between Trinity Capital Advisors and Hartford Investment Management Company, in the sale to Clarion Partners.
The newly constructed facility located at 237 Jedburg Road features 32-foot clear heights, ESFR sprinklers and ample parking for both automobiles and trailers. The property is fully leased to a leading global e-commerce tenant.
Strategically positioned along I-26, one of South Carolina's main distribution arteries, the property is situated between the Port of Charleston and I-95, allowing the building to service the entire East Coast within two days and providing critical access to the city's population hubs. The property also enjoys direct access to Charleston International Airport (CHS) and major regional manufacturers, among many others.
As one of the fastest-growing industrial markets in the Southeast, Charleston offers outstanding supply chain positioning, a skilled workforce, low operating costs and a pro-business regulatory environment.
"Clarion Partners, the third largest owner of industrial real estate in the U.S., has been active in the industrial and logistics sector for more than two decades," said Ali Winrow, Vice President and Product Specialist at Clarion Partners. "The addition of Jedburg Logistics Center to the Clarion Partners Real Estate Income Fund (CPREX) portfolio builds upon our conviction in this sector and we are excited to add this to CPREX's growing portfolio of industrial assets."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
Trinity Capital Advisors focuses on the acquisition and development of institutional-quality commercial real estate in the southeastern United States. The firm has invested more than $4.5 billion acquiring and developing more than 30 million square feet of the most successful workplace real estate projects in North Carolina, South Carolina, Tennessee, and Florida, including CBD office towers, industrial portfolios, suburban office parks, and mixed-use developments. Investments are capitalized through various Trinity Capital investment vehicles and partnerships with some of the country's top institutional investors. Learn more at trinitycapitaladvisors.com.
Hartford Investment Management Company (HIMCO) has been providing investment advice for over 40 years. With over 115 investment professionals and approximately $108 billion in assets under management across the fixed income, equity and alternatives markets, we deliver tailored strategies to insurance, sub-advisory and other institutional clients.
Clarion Partners, LLC, has been a leading real estate investment manager for over 40 years. Headquartered in New York, the firm maintains strategically located offices across the United States and Europe. With $73.2 billion in total real estate and debt assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to approximately 500 institutional investors across the globe. The Firm's global industrial team manages a 1,000+ property portfolio in the U.S. and Europe consisting of more than 253 million square feet. Clarion Partners is an independent subsidiary of Franklin Templeton. More information about the firm is available at www.clarionpartners.com.