CORFAC News

Local press contact:
Brandie Redd
Piedmont Properties/CORFAC International
704-375-1445
bredd@piedmontproperties.com

Rock Hill, SC (September 26, 2012) – Piedmont Properties/CORFAC International, a  leading  full-service commercial real estate provider serving the Charlotte market and surrounding areas, today  announced the completion of the sale of an industrial building located at 2751-2805 Commerce Drive.  The building consists of 318,000 square feet and is located within the Commerce Drive Industrial Park in Rock Hill.

The property was sold by Weston, Inc. of Cleveland, OH to Rock Hill Commerce, LLC of Norwalk, CT for $5,150,000. 

Lester E. Osborn, CCIM, SIOR and A. Scott Hensley, CCIM, SIOR of Piedmont Properties/CORFAC International represented the seller.  Through networking with fellow SIOR’s around the country, Osborn and Hensley procured Rock Hill Commerce, LLC as the purchaser for the property.  Two other SIORs acted as principals of the buying entity, Herb Krumsick, SIOR of J.P. Weigand & Sons, Inc located in Wichita, KS and Michael F. DiScala, SIOR of M.F. DiScala & Company located in Norwalk, CT. 

This is a 318,000 square foot building and is the third and final building within the Commerce Drive Industrial Park in Rock Hill, SC that Piedmont Properties has sold for their client, Weston, Inc.  The building is 58% occupied with two tenants.  Osborn and Hensley have completed the sale of the other two buildings; one 120,000 square foot building in 2010 and a second 120,000 square foot building in 2011. 

“This sale is testament to the improving industrial real estate market in the Charlotte area.  We have seen good activity in the past 12 months from both investors and end users taking advantage of a soft market and acquiring good assets at a fraction of their replacement costs.  The availability of good industrial buildings is quickly diminishing and I expect to see an increase in construction within the next 12 to 18 months,” quoted A. Scott Hensley, CCIM, SIOR of Piedmont Properties/CORFAC International.

About Piedmont Properties/CORFAC International
Piedmont Properties of the Carolinas, Inc. is a commercial real estate firm located in Charlotte, North Carolina established in 1993 in response to demand for a highly responsive and focused firm offering full service commercial real estate expertise to private sector clients, including entrepreneurs and publicly traded entities alike. Piedmont Properties’ vision is to be and build upon our reputation as a high quality, client-oriented real estate service firm offering our services to local and worldwide corporations.  Piedmont Properties brings a team approach to the services we provide to our clients by bringing to the table at any one time a team of real estate professionals who can meet the objectives of our clients. Our brokers provide clients with experience in sales and leasing; tenant representation; site selection; disposition; investments; tax-deferred exchanges; build-to-suit; and real estate evaluations.  For more information on Piedmont Properties/CORFAC International visit: www.piedmontproperties.com or call 704.375.1101. 

About CORFAC International
CORFAC International (Corporate Facility Advisors) is distinguished by the way it manages multi-market commercial real estate assignments on behalf of corporate entities and privately owned companies.  Founded in 1989, U.S.-based CORFAC is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services in North America, with coverage in South America provided by Panama-based Latin American Corporate Property Services. A Principal Member of FIABCI – the International Real Estate Federation with global affiliates in Europe and Asia, CORFAC International offers commercial real estate services with market reach in 65 countries worldwide. In recent years, CORFAC firms have averaged 10,000 completed transactions annually encompassing nearly 100 million square feet and valued at more than $6 billion. For more information on CORFAC, contact 703.532.6160 or visit www.corfac.com.