JLL Capital Markets arranged the sale and acquisition financing for the transaction
News release
30 June 2022
Bulk distribution center near Greensboro trades
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CHARLOTTE, N.C., June 30, 2022 – JLL Capital Markets announced today that it has closed the sale and arranged acquisition financing for Greensboro I-40 Logistics Center, a new, 475,901-square-foot, Class A distribution center along the I-40 corridor in the Greensboro-area community of Whitsett, North Carolina.
JLL marketed the property on behalf of the seller, Intersect Development Group. BentallGreenOak acquired the assets. Additionally, working on behalf of the new owner, JLL arranged the acquisition loan.
Situated on 47.20 acres at 6890 Konica Dr., Greensboro I-40 Logistics Center is in Whitsett, which is located between the Greensboro and Raleigh-Durham MSAs. The property is in a prime distribution location at the intersection of NC-61 and Interstates 40 and 85, which are two primary distribution throughfares that facilitate connectivity to not only the Southeast but the entire United States.
The JLL Industrial Capital Markets Investment Sales and Advisory team that represented the seller was led by Luis Castillo, Patrick Nally, Britton Burdette and Cody Brais.
The JLL Industrial Capital Markets Debt Advisory team that represented the new owner was led by Paul Spellman, Taylor Allison and Emma Buch.
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 and sales 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.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About BentallGreenOak
BentallGreenOak is a leading, global real estate investment management advisor and a globally recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BentallGreenOak has offices in 27 cities across thirteen countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets. BentallGreenOak is a part of SLC Management, which is the institutional alternatives and traditional asset management business of Sun Life. For more information, please visit bentallgreenoak.com.