Cushman & Wakefield’s Nolan Ashton and Rob Cochran of the Capital Markets team and Fermin DeOca of the Industrial Leasing team represented the seller, Beacon Partners, in the transaction. STAG Industrial acquired the property.
“Industrial real estate remains a favored asset class for investors, and demand for this asset was robust due to the quality of the asset and investment grade credit,” Ashton said.
Located at 3389 Catawba Industrial Place along Interstate 40, the 137,785-square-foot building provides easy access to Interstates 77 and 85, and US-321. The highly functional facility features 35’ clear heights, 8” concrete slab with reinforcement, pre-cast concrete panels, 33 dock doors, 39 trailer parking spaces, and 46 car parking spaces.
The property is leased to WestRock, one of the world’s largest paper and packaging companies. The facility offers additional distribution support to the nearby WestRock manufacturing presence along the I-40 corridor where they occupy more than 750,000 square feet in the region and 1.7 million square feet in North Carolina.