LM Real Estate Buys South Carolina Industrial Asset
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The 450,033-square-foot property changed hands for $30.2 million.
LM Real Estate Partners has acquired Global Avenue Logistics Center, a 450,033-square-foot industrial facility in Graniteville, S.C., from Edgewater Ventures and Singerman Real Estate. A JLL team brokered the transaction.
According to Aiken County public records, the buyer paid $30.2 million for the property, financing the purchase with a $17.3 million loan, originated by Voya Investment Management.
Located at 1043 Global Ave., the facility came online in 1998 on a 30.1-acre lot within the 2,400-acre Sage Mill Industrial Park. The multi-tenant logistics building has a 36-foot clear height, dock-high doors, motion sensors and ESFR sprinklers.
Global Avenue Logistics Center is some 19 miles from downtown Augusta, Ga. The industrial asset is close to interstates 20 and 520, providing access to Atlanta, Savannah, Ga., Charlotte, N.C., and Charleston, S.C.
The JLL Capital Markets team that assisted the sellers was led by Senior Managing Directors Pete Pittroff and Britton Burdette, Managing Director Patrick Nally, Director Dave Andrews and Analyst Zach Lloyd. Burdette and Nally were also instrumental in the recent, $127.7 million sale of a 1.2 million-square-foot logistics facility in Richmond, Va.