{"id":1004209940,"date":"2018-03-12T08:21:02","date_gmt":"2018-03-12T16:21:02","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004209940"},"modified":"2022-12-09T00:53:11","modified_gmt":"2022-12-09T08:53:11","slug":"gladstone-acquires-central-al-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/gladstone-acquires-central-al-industrial-asset\/","title":{"rendered":"Gladstone Acquires Central AL Industrial Asset"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/industrial-news-021.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" data-attachment-id=\"1004191180\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/sentury-tire-seeks-developer-for-its-first-us-facility\/industrial-news-02-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/industrial-news-021.png\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"industrial news 02\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/industrial-news-021.png?w=800\" loading=\"lazy\" class=\"alignright wp-image-1004191180 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/industrial-news-021.png\" alt=\"industrial news 02\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/industrial-news-021.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/industrial-news-021.png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/industrial-news-021.png?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>Gladstone Commercial Corp. has acquired a 127,444-square-foot industrial property from Graham &amp; Co. in Vance, Ala., for $14.3 million. The initial cap rate for the structure was 6.98 percent, with an average cap rate of 7.62 percent.<\/p>\n<p>Located at 11198 Will Walker Road, the property sits on a 14-acre parcel just north of Interstate 20 at the M-Class Boulevard exit. The build-to-suit asset is fully leased to Truck and Wheel USA Corp. for a 10-year term. The company, which moved into the building at the beginning of January,\u00a0is providing wheels and tires to the expanding <a href=\"https:\/\/www.commercialsearch.com\/news\/daimler-ag-to-invest-1b-in-al-mercedes-benz-facilities\/\">Tuscaloosa Mercedes-Benz facility<\/a> in the area. The main buildings of the Mercedes-Benz campus are situated within two miles, and the city of Tuscaloosa is 20 miles to the west.<\/p>\n<p><em>\u201cThe acquisition of the Truck and Wheel property marks our second in the Vance, Ala. market. The strong fundamentals of the market due to the nearby Mercedes-Benz plant and Truck and Wheel\u2019s dedication to the property through the company\u2019s $35 million investment make this investment a great addition to the Gladstone portfolio,\u201d<\/em> said Buzz Cooper, southwest regional senior managing director of Gladstone Commercial, in a prepared statement.<\/p>\n<p>Sonny Culp and Henry Graham of Graham &amp; Co. worked alongside Doug Longyear of Cushman &amp; Wakefield to represent the seller in the transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Located 20 miles from Tuscaloosa, the building encompasses more than 125,000 square feet of manufacturing and distribution space, purpose-built for Truck and Wheel USA Corp.<\/p>\n","protected":false},"author":861,"featured_media":1004191180,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,21742],"tags":[32799,36464,36881],"class_list":["post-1004209940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-latest","tag-cushman-wakefield","tag-gladstone-commercial-corporation","tag-mercedes-benz"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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