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Capital Markets Group Completes Sale of 580,326 SF Distribution Facility

MORRISVILLE, NC:  Cushman & Wakefield | Thalhimer announces that its Capital Markets Group represented Pearlmark Real Estate Partners in the sale of 900 Aviation Industrial Center, a 580,326 square foot, class A industrial facility located near Raleigh-Durham International Airport in Morrisville, North Carolina.  Ares Management purchased the 93% leased property as an investment for an undisclosed purchase price.
     Chris Norvell, SIOR and Scot Humphrey of Cushman & Wakefield | Thalhimer’s Capital Markets Group handled the negotiations on behalf of the seller.
     “We’ve seen a growing appetite from institutional owners for industrial product in the Raleigh-Durham market and expect the sale of 900 Aviation to kick off a busy year.  We are especially pleased to welcome Ares Management as the newest owner of industrial real estate in Raleigh,” stated Norvell.

Written on February 8, 2014