RALEIGH, N.C., Nov. 5, 2021 - JLL Capital Markets announced today that it has closed the sale of South 40 Distribution Center, a 502,495-square-foot, last-mile, multi-tenant distribution facility in Raleigh, North Carolina.

JLL marketed the property on behalf of the seller, LM Real Estate Partners. Pennybacker Capital acquired the asset.

"We are thrilled to be entering the Raleigh industrial market," said Pennybacker Capital's Edvin Beasley, managing director and portfolio manager of Pennybacker's Value Funds. "With immediate proximity to the broader MSA and long-term optionality of the investment, we believe the property fills a growing need for infill industrial space and is well-positioned to participate in the near and long-term growth of Raleigh and the surrounding markets."

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

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 delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.

Attachments

  • Original document
  • Permalink

Disclaimer

Jones Lang LaSalle Inc. published this content on 08 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 November 2021 14:37:03 UTC.