Atlanta, GA – The Net Lease Group (“NLG”) is pleased to announce it has completed the $425.2 million sale of a portfolio of five new Class A industrial assets, built between 2019 and 2021, to PRP, a leading investment management firm focused on credit net lease investments. The properties, all of which are fully leased, are located in metro Houston, St. Louis, Birmingham, Ala., and Greenville-Spartanburg, S.C.
Totaling over 4.52 million square feet, the properties are leased by companies including an affiliate of Techtronic Industries Co. Ltd., a major international e-retailer and a leading national home improvement company. The portfolio sale is the largest multi-property disposition by CRG to date and signals the company’s growing reputation with investors and tenants for top sites and high-quality, state-of-the-art warehouse and distribution facilities throughout the country. CRG’s parent company Clayco served as the builder, and Lamar Johnson Collaborative as the architect for all of the projects.
“PRP’s acquisition of these assets – and the high quality of the tenants leasing them – is a testament to our strategy of thoughtful site selection in high-growth areas and a vertically integrated planning-design-construction model that allows us to respond nimbly and quickly to opportunities,” said Shawn Clark, president of CRG.
The disposition team led by Esmael Hill includes Net Lease Group team members Philip Wickstrom, Rick Ross, Mark Lewensohn and Ross Wood, who assisted throughout the transaction from construction to completion. In addition to leading the disposition, The Net Lease Group through its capital management arm, NLG Capital Management (NLGCM) arranged the equity capitalization for the construction and development of the assets.
NLG is an investment advisory and brokerage firm specializing in corporate, institutional, and private execution of single and multi-tenant, net lease transactions across all markets. NLG provides Investment Sales, Sale-Leaseback Advisory, Build-to-Suit Advisory, Development Services, Debt-Equity Placement, and Private Client Services throughout the United States.
To learn more visit us at TheNetLeaseGroup.com.