{"id":1004700317,"date":"2024-01-31T03:53:51","date_gmt":"2024-01-31T11:53:51","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004700317"},"modified":"2024-01-31T05:27:40","modified_gmt":"2024-01-31T13:27:40","slug":"ae-industrial-pays-190m-for-2-msf-alabama-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ae-industrial-pays-190m-for-2-msf-alabama-facility\/","title":{"rendered":"AE Industrial Pays $190M for 2 MSF Facility"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"820\" height=\"600\" data-attachment-id=\"1004700357\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ae-industrial-pays-190m-for-2-msf-alabama-facility\/shoals-rsa-building\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Shoals-RSA-building.jpg\" data-orig-size=\"820,600\" 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=\"Shoals-RSA-building\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Shoals-RSA-building.jpg?w=820\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Shoals-RSA-building.jpg\" alt=\"AE Industrial paid $190 million for the facility at 1200 Haley Drive in The Shoals area of Northwest Alabama\" class=\"wp-image-1004700357\" style=\"width:384px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Shoals-RSA-building.jpg 820w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Shoals-RSA-building.jpg?resize=300,220 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Shoals-RSA-building.jpg?resize=768,562 768w\" sizes=\"auto, (max-width: 820px) 100vw, 820px\" \/><figcaption class=\"wp-element-caption\">AE Industrial paid $190 million for the property at 1200 Haley Drive in The Shoals area of northwest Alabama. <em>Image courtesy of Shoals Economic Development Authority<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>Rocket Shoals<\/strong> LLC, an affiliate of <strong>AE Industrial Partners<\/strong> LP, a Boca Raton, Fla.,-based private equity firm specializing in the aerospace, national security and industrial services, has acquired a 2.3 million-square-foot industrial facility in Cherokee, Ala., from the <strong>Retirement Systems of Alabama<\/strong>, to create an aerospace hub.<\/p>\n\n\n\n<p>The firm paid $190 million for the facility located on 638 acres at 1200 Haley Drive in the Shoals area, according to <em>al.com<\/em>. The media company website reported renovations have already begun at the site and AEI officials expect to have up to two clients in the massive facility by the end of the year. The space is currently vacant but previous tenants included National Steel Car, Navistar and FreightCar America, which closed its manufacturing facility at the Shoals property in 2020. <\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/top-5-western-markets-for-industrial-construction\/\">Top 5 Western Markets for Industrial Construction<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>The space is well suited for aerospace manufacturing and will become the new headquarters for select AE Industrial portfolio companies as well as other aerospace suppliers, manufacturers and innovators. The greater Shoals area, as well as the corridor that extends east to Huntsville, Ala., is home to a well-educated workforce and a growing cohort of <a href=\"https:\/\/www.commercialsearch.com\/news\/north-americas-hottest-tech-talent-markets\/\">aerospace industry engineers and technology professionals.<\/a><\/p>\n\n\n\n<p>AEI will also be partnering with Poarch Band of Creek Indians, a federally recognized tribe of Native Americans with reservation lands in lower Alabama, to provide joint capabilities and bring innovative solutions to federal customers.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-growing-aerospace-industry\">Growing aerospace industry<\/h2>\n\n\n\n<p>David Rowe, co-CEO &amp; managing partner at AE Industrial, said in a prepared statement the company is a highly focused investment firm aiming to create value at the nexus of the aerospace, space and defense markets\u2014all sectors that are currently thriving in Alabama.<\/p>\n\n\n\n<p>Chris Emerson, senior partner at AE Industrial, said in a prepared statement the firm has experience with past projects, including <strong>Mercedes-Benz<\/strong> and the<strong> Airbus <\/strong>final assembly line in Mobile, Ala., which gives them confidence in their regional relationships and ability to engage with local partners to establish north Alabama as an \u201caerospace corridor.\u201d<\/p>\n\n\n\n<p>There are more than 300 aerospace companies from more than 30 countries with operations in Alabama, including industry giants such as <strong>Boeing<\/strong>, <strong>Lockheed Martin<\/strong>, <strong>GE Aviation<\/strong> and <strong>Raytheon<\/strong>, according to data from the Alabama Department of Commerce.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/copt-inks-103m-build-to-suit-deal-in-alabama\/\">Redstone Arsenal in Huntsville<\/a> is a major research, engineering and test center housing the U.S. Army\u2019s critical missile defense and aviation programs. It is also home to the Marshall Space Flight Center, one of NASA\u2019s largest and most historic facilities.<\/p>\n\n\n\n<p>Airbus produces A320 Family and A220 passenger jets at its only U.S.&nbsp; manufacturing facility in Mobile.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plans call for an aerospace hub on more than 600 acres in northwest Alabama.<\/p>\n","protected":false},"author":1068,"featured_media":1004700357,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21748,21783,21742,32781],"tags":[],"class_list":["post-1004700317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-investment","category-latest","category-southeast"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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