JLL Capital Markets closes the sale of 720 Pegg Road, a 234K SF industrial facility in the North Carolina Triad market
News release
26 September 2024
JLL sells Class A logistics facility in High Point, NC
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CHARLOTTE, Sept. 26, 2024 – JLL Capital Markets announced today the sale of 720 Pegg Road – a 234,224 square foot Class A logistics facility in High Point, North Carolina.
JLL represented the seller, Beacon Partners, in the transaction.
Delivered in 2022, the institutional-grade logistics facility is fully leased to three tenants, including Lowe’s Home Centers. The 260-foot-deep rear-load property features 32-foot clear heights, ESFR sprinklers and motion-sensored LED lighting along with multiple storefronts, offering future leasing versatility to accommodate multiple tenant needs.
Ideally located in the Greensboro-Winston-Salem-High Point (Triad) industrial market, the property is also strategically positioned off the I-40/NC-68 interchange. This location ensures seamless access to Piedmont Triad International Airport (GSO) and connectivity via interstates I-40, I-73, I-74, I-840 and I-85.
The JLL Investment Sales and Advisory team was led by Senior Managing Director Pete Pittroff, Senior Director Dave Andrews, Director Michael Scarnato, Associate Zachary Llyod and Analysts Michael Lewis and Allan Parrott.
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 sales and 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.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Beacon Partners
Beacon Partners is a Carolinas-based commercial real estate firm specializing in the development, acquisition, leasing, and management of industrial, office and mixed-use properties. Beacon leases, owns, or manages more than 17.5 million square feet of commercial space throughout the Carolinas. For more information on Beacon Partners and its properties, visit www.beacondevelopment.com.