CHARLESTON, July 13, 2021 - JLL Capital Markets announced today it closed the sale of 553 Trade Center Pkwy at the Charleston Trade Center, one of the premier industrial parks in Charleston, South Carolina.

JLL worked on behalf of the developer and seller, The Keith Corporation, to complete the sale to the buyer, LBA Logistics.

Built in 2019, the 136,500-square-foot Class A building is 100% leased to Thorne Research Inc. and Advanced Packaging Solutions & Products Inc. The industrial property is a rare, small-footprint building, which has become increasingly desirable amongst investors, as development costs continue to rise.

The building is strategically positioned adjacent to I-26, which provides seamless access throughout the surrounding region. The location also provides direct access to the Charleston International Airport (CHS), the Port of Charleston and large local manufacturers including Mercedes-Benz, Boeing and Volvo.

The explosive industrial market throughout the pandemic had to quickly shift to meet the increasing demands of consumers, as logistics and parcel delivery became the most active industry, according to JLL's most recent Industrial Tenant Demand Study. In addition, JLL's Q1 2021 Industrial Outlook stated that the market delivered 55.8 million square feet in that quarter alone.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Pete Pittroff, Managing Director Patrick Nally, Director Dave Andrews and Analysts Michael Scarnato and Josh McArdle.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge deliver best-in-class solutions for clients - whether investment sales advisory, debt placement, equity placement, or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Jones Lang LaSalle Inc. published this content on 13 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 July 2021 15:56:03 UTC.