Graham Capital sells Charlotte warehouse to user for $10 million
Birmingham’s Graham Capital closes three new acquisitions in Huntsville, Atlanta, and Tampa totaling $33M to kick-start Fund II
BIRMINGHAM, AL , June 3, 2024 – Birmingham-based Graham Capital announced today that it has recently acquired, in three separate transactions, industrial properties in Huntsville, Atlanta, and Tampa totaling $33 million.
Graham Capital’s Fund II closed on the acquisition of 353 James Record Rd. in Huntsville, AL in March. Strategically located next to the Huntsville Airport, the 46,000 SF functional, single-tenant warehouse with heavy power is leased to Dometic, serving the marine industry with a wide range of innovative products for both leisure and professional consumers. Huntsville has become one of the most desirable industrial markets in the Southeast with recent announcements from Mazda Toyota, Buffalo Rock, First Solar, and others. Institutional tenants and investors have been flocking to Huntsville, which was named the second-best place to live by US News & World Report 2023/2024 rankings.
Fund II also closed on the acquisition of 2225 Skyland Ct. in Atlanta, GA in April. The 160,000 SF, infill Class B+ warehouse is located in the coveted Northeast Submarket of Atlanta. Skyland is leased to Eagle Rock Studios, a state-of-the-art filming studio owned by Budweiser distributor, Eagle Rock Distributing. “Skyland’s prime location, asset quality, heavy power, and credit tenancy make it a perfect fit for Fund II, which is focused on light industrial and light manufacturing properties in highly sought after markets like Atlanta” said Crosby Taylor, VP of Acquisitions and Development.
Just last week, Fund II acquired an Industrial Outdoor Storage (“IOS”) site located in Plant City, FL, strategically located along I-4 between Tampa and Lakeland. The 12-acre site, located at 4609 Lykes Rd., is currently leased to two tenants that use the acreage for trailer storage and laydown yard space. In-place rents are ~40% below market, offering significant upside upon tenant renewals.
Graham Capital is a real estate investment company based in Birmingham, Alabama, focused on the acquisition and development of highly-functional distribution centers in high-growth Southeastern industrial markets, which continue to experience above-market rent growth, high barriers to entry, and the deepest demand among institutional investors.