Sagebrook House Distribution Middle. Picture courtesy of JLL
Stockbridge has bought a 430,920-square-foot Class A industrial facility in Summerville, S.C. The absolutely leased property modified fingers for $49 million, in line with Berkeley County public information.
JLL negotiated on behalf of the vendor, Lightstone Group, which beforehand bought the property in 2021, for $33 million, CommercialEdge information reveals.
Serving as a regional distribution heart for Sagebrook House, the single-story industrial asset is situated at 574 Commerce Middle Parkway and options 36-foot clear heights and 266 parking spots, the identical information supplier reveals. Located inside Charleston Commerce Middle, on almost 35 acres, Sagebrook House Distribution Middle is near interstates 26, 95 and 526, 19 miles from Charleston Worldwide Airport and inside 27 of Port of Charleston.
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A JLL Capital Markets Funding Gross sales Advisory staff shaped of Director Dave Andrews, Senior Managing Administrators Patrick Nally and Pete Pittroff, along with Affiliate Josh McArdle, labored on behalf of Lightstone Group.
In November 2022, the identical firm assisted Trinity Capital Advisors within the disposal of its TradePark East in Charleston, S.C. The developer bought its first speculative mission within the space, that’s composed of 4 buildings and encompasses 837,000 sq. toes of business area, earlier than development started, to an undisclosed purchaser. Earlier that month, JLL represented Edgewater Ventures, in partnership with Singerman Actual Property, within the disposition of a 450,033-square-foot logistics heart in Graniteville, S.C.
