Scannell Properties Sells Class A Industrial Campus for $27.15 Million
Scannell Properties announces the sale of PowerSecure Industrial Campus to Principal Real Estate Investors – a public and private equity and debt investment company. The 258,060-square-foot industrial park sold for $27.15M and is ideally situated in Raleigh-Durham, NC.
Named “PowerSecure Industrial Campus”, the properties include a two-building, fully leased Class A assembly, distribution and R&D facility totaling 258,060 square feet. Holliday Fenoglio Fowler, L.P (HFF) represented Scannell.
Completed in 2017, PowerSecure Industrial Campus comprises a best-in-class 172,500-square-foot assembly and distribution building and an 85,560-square-foot warehousing and R&D facility fully leased on a triple-net-lease basis to PowerSecure Inc., an industry-leading product developer and solutions provider for utility companies and their large commercial, institutional and industrial clients. The campus features 28- to 30-foot clear heights, 130-foot truck courts with 60-foot concrete aprons, HVAC throughout and attractive glass lines. Situated on 22.6 acres at 4062 and 4068 Stirrup Creek Drive in Durham, the campus is within the 160-acre Triangle Business Center master-planned business park, which is at the epicenter of a web of major transportation arteries, including the Durham Freeway, U.S. Highway 70 and Interstates 40, 540 and 85. PowerSecure Industrial Campus is located in the Research Triangle Park/Interstate 40 submarket, and the property provides access to several lifestyle amenities, including Brier Creek, a master-planned, mixed-use community featuring executive housing, an Arnold Palmer Signature Golf Course; and 800,000 square feet of open-air retail.