{"id":1004711696,"date":"2024-04-25T04:19:46","date_gmt":"2024-04-25T12:19:46","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004711696"},"modified":"2024-04-25T05:50:38","modified_gmt":"2024-04-25T13:50:38","slug":"ahf-products-lays-down-industrial-portfolio-sale-leaseback","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ahf-products-lays-down-industrial-portfolio-sale-leaseback\/","title":{"rendered":"TPG Angelo Gordon Lands Industrial Sale-Leaseback"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"620\" data-attachment-id=\"1004711821\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ahf-products-lays-down-industrial-portfolio-sale-leaseback\/northmark-commerce-center-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Northmark-Commerce-Center.jpg\" 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=\"Northmark-Commerce-Center\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Northmark-Commerce-Center.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Northmark-Commerce-Center.jpg\" alt=\"Northmark Commerce Center in Fort Worth, Texas.\" class=\"wp-image-1004711821\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Northmark-Commerce-Center.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Northmark-Commerce-Center.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Northmark-Commerce-Center.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><figcaption class=\"wp-element-caption\">A Newmark team also arranged the sale of Northmark Commerce Center in Fort Worth, Texas. <em>Image courtesy of Newmark<\/em> <\/figcaption><\/figure><\/div>\n\n\n<p>AHF Products has sold two Crossville, Tenn., industrial sites totaling five buildings and 919,405 square feet. TPG Angelo Gordon bought the properties in a sale-leaseback transaction; the maker of hard surface flooring will continue to occupy the facilities long-term, with its stay structured under an absolute net-master lease.<\/p>\n\n\n\n<p>Newmark Vice Chairman Andrew Sandquist, Executive Managing Director JC Asensio&nbsp;and Managing Director Briggs Goldberg of the firm\u2019s Capital Markets Group represented the seller and procured the financing. <\/p>\n\n\n\n<p>TPG&#8217;s new purchase comes a week after <a href=\"https:\/\/www.commercialsearch.com\/news\/cypress-west-tpg-angelo-gordon-form-300m-jv\/\">forming a joint venture<\/a> with Cypress West Partners to purchase up to $300 million worth of medical office properties around the Sun Belt.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-ahf-makes-itself-at-home\">AHF makes itself at home<\/h2>\n\n\n\n<p>The change of hands took place roughly six months after AHF purchased Crossville Inc., a tile manufacturer which had its headquarters at 349 Sweeney Drive, one of the buildings included in the portfolio. AHF, itself a subsidiary of Armstrong Flooring, now uses the building as a corporate office, manufacturing facility and distribution center.<\/p>\n\n\n\n<p>According to AHF, the purchase allowed the company to make a foray into tiles, offering a line of ceramic, stone and porcelain finishes for its flooring solutions.<\/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\/portal-warehousing-ceo-on-the-expansion-of-co-warehousing-solutions\/\"><span class=\"fl-heading-text\">The Expansion of Flex Warehousing Solutions<\/span><\/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>TPG\u2019s new assets are located at 297-349 Sweeney Drive and 301 Porcelain Drive. The former property is a four-building park that totals 348,660 square feet, which includes manufacturing, distribution, showroom and office spaces. 301 Porcelain Drive is a 570,745-square-foot ceramics warehouse also operated by Crossville. <\/p>\n\n\n\n<p>The facilities, located within 2.5 miles of each other, directly face Interstate 40. Downtown Crossville is some 4 miles south. Nashville and Knoxville are roughly 100 and 60 miles to the west and east of the facilities, respectively.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-volunteer-state-ups-the-voltage\">The Volunteer State ups the voltage<\/h2>\n\n\n\n<p>Exporting more than $38 billion worth of <a href=\"https:\/\/tnecd.com\/industries\/advanced-manufacturing\/#:~:text=Tennessee%20exports%20more%20than%20%2438,%2C%20pharmaceuticals%2C%20and%20navigational%20equipment.\" target=\"_blank\" rel=\"noopener\">manufactured goods<\/a> on a yearly basis, Tennessee continues to attract the attention of domestic and international industrial heavy hitters.<\/p>\n\n\n\n<p>In late February, South Korea\u2019s Hankook Tire <a href=\"https:\/\/www.commercialsearch.com\/news\/hankook-taps-clayco-for-1-6b-tennessee-expansion\/\">announced plans<\/a> to expand an existing manufacturing plant in Clarksville by 2.2 million square feet. The $1.6 billion project includes the previously planned second phase expansion, as well as an additional third phase, representing the firm\u2019s first production of truck bus and radial tires in the country.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A flooring manufacturer will continue to occupy the properties.<\/p>\n","protected":false},"author":3012,"featured_media":1004711821,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,32781],"tags":[52391,50999,52382],"class_list":["post-1004711696","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-southeast","tag-ahf-products","tag-newmark","tag-tpg-angelo-gordon"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin 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