1701 Westinghouse Boulevard
1701 Westinghouse Blvd, Charlotte, NC, 28273-6383, US
9 021 mètres carrés
Description de l'actif
Jones Lang LaSalle ("JLL") has been exclusively retained to market for sale the fee-simple/leasehold interest in Lumley Infill Logistics Center, a 67,172 SF, Class A, infill shallow-bay industrial facility just outside Raleigh Durham’s prominent Research Triangle Park (the "Property" or the "Offering"). Currently 100% leased to two (2) tenants with 9.4 years of weighted average lease term remaining, the Property is defined by its small-scale multi-tenant configuration and infill location just outside one of the most sought-after, high barriers to entry submarkets in the US with +99% occupancy. Delivered by best-in-class developer Merus (formerly Al. Neyer) in May 2023, the Offering presents investors with a rare institutional quality shallow bay asset that is costly to replicate, positioning the building as a top-tier option for a wide range of regional and national occupiers. Investors in Lumley Infill Logistics Center will acquire a top-quality shallow bay facility in one of the nation's fastest growing MSA’s, adjacent to the Research Triangle Park (RTP), 100% leased to two diverse tenants with a staggered 9.4 years of WALT.
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Attributs
Superficie du bâtiment nette
6 240 mètres carrés
Occupation
100 %
Année de construction
2023
Média
Points forts de l'investissement
TOP-TIER SUBMARKET AT RESEARCH TRIANGLE PARK (RTP)
• Lumley Infill Logistics Center is strategically situated within Research Triangle Park/I-40 (“RTP/I-40”) submarket – one of the most highly-sought after institutional industrial submarkets on the East Coast. Considered one of the tightest submarkets in the Southeast, the RTP/I-40 submarket is currently 97.0% leased and has experienced an astounding ten (10) consecutive years of occupancy over 95.0% across all product.
• Additionally, cost-effective industrial land has become increasingly scarce in the RTP/I-40 submarket due to the rapid expansion of residential development, the growth of R&D use restrictions, and topographical/geological constraints; making it more challenging to develop new product, keeping upward pressure on rents with an 145% cumulative growth since 2020.
CLASS A, SHALLOW-BAY CONSTRUCTION WITH LIMITED COMPETITION
• Developed in May 2023 by best-in-class developer, Merus (formerly Al. Neyer), this Class-A shallow-bay facility was designed with top-of-market specifications including 28' clear, ESFR, LED, a fully circulating truck court, expandable loading, and outdoor storage capacity with a 110'-deep truck court.
• At just 67,172 SF, this small-scale, shallow bay facility is the exact type of product that is well-coveted by a variety of users and is extremely costly to replicate; positioning the asset as a top choice among its limited peer set.
• While demand has remained strong for industrial product across the country, shallow-bay product(1) has realized accelerated cumulative rent growth over 100% this cycle; outpacing the national average for broader industrial markets and realizing 6.8% CAGR in rents from Q1 2014 to Q1 2024.
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Lumley Infill Logistics Center (0 Propriétés)
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Dernière mise à jour
12 mars 2025
