Conover Distribution Center

2050 Evergreen Drive, Conover, NC, 28613, US

Descrição

Jones Lang LaSalle Americas, Inc. (“JLL”) has been retained as the exclusive sales representative for Conover Distribution Center (the “Property”), a 113,568 square foot warehouse facility located in Conover, North Carolina. The Property is 100% leased to Dalco-GFT Nonwovens (“Dalco”) with 3.2 years of lease term remaining. Dalco is a specialized manufacturer and supplier of high-performance nonwoven fabrics for a wide range of textile categories including automotive customers, home furnishings and industrial converters, geotextile applications as well as specialty niche end uses.

The Property sits within the Catawba County submarket that is 98% occupied, putting continued pressure on rental rates. Additionally, the Property is positioned less than two (2) miles from I-40, providing national and regional connectivity to various cities including Greensboro-Winston-Salem, Raleigh-Durham and Charlotte. Tenants of the corridor enjoy direct access to all major regional thoroughfares, including I-77, US-321 and I-85, the industrial backbone of the Southeast. Overall, Conover Distribution Center provides investors the opportunity to acquire a 100% leased industrial asset at a below replacement cost basis, with future value creation potential.

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Atributos

Ocupação

100%

Ano de construção

2000

Área de terreno bruta

20,2 ha

WAULT

3.2 anos

Área de construção líquida

10.551 m²

Media

Destaques do investimento

WELL-BELOW REPLACEMENT COST OPPORTUNITY

• The Property is being offered well below the cost to replace the facility today, particularly given its small footprint and the current elevated construction cost environment

• Low basis acquisition enhances investment potential, allowing investors to enter a high barriers to entry industrial market while mitigating risk

ROBUST INDUSTRIAL FUNDAMENTALS

Located to the northwest of Charlotte, Catawba County demonstrates exceptionally resilient industrial fundamentals

• Within the Catawba County submarket, Class B industrial space is currently 98% leased, representing the exceptional demand for functional, workhorse industrial product in the region

• Average asking rental rates continue to grow in the submarket, with Class B rents growing by more than 189% (+14.5% CAGR) since 2022

• Non-existent supply pipeline with 0 SF of new product delivered in 2025, further increasing competition for well-located, workhorse industrial assets in the submarket

STRONG REGIONAL CONNECTIVITY

• The Property benefits from favorable accessibility to multiple surrounding interstates including I-40, US-321, I-77 and I-85, the logistics super corridor that has emerged as the economic engine of the Sun Belt providing seamless transportation and distribution opportunities

• Situated less than two (2) miles from I-40, the Property is within a one (1) day drive of 60% of the U.S. population

ACCESS TO EXPLOSIVE CHARLOTTE MSA

• Currently the 15th largest city in the US and a top 10 fastest-growing major city in the country, Charlotte has emerged as a major logistics hub due to its centralized location along the Eastern Seaboard, robust economic fundamentals and the presence of one of the world's busiest airports

• Charlotte continues to its meteoric rise, boasting 50% population growth since 2000 with a further 6.2% projected growth between 2023 and 2028