Zurich acquires mission-critical headquarters facility in Charlotte MSA
JLL Capital Markets closed the sale of SouthWood Corporation HQ on behalf of The Keith Corporation
CHARLOTTE, Dec. 8, 2022 – JLL Capital Markets announced today that it has closed the sale of SouthWood Corporation HQ, a brand-new 64,654-square-foot Class A warehouse and production facility in Rock Hill, South Carolina.
JLL represented The Keith Corporation, a leading Charlotte-based developer, owner and operator of institutional-quality real estate nationally. An investor advised by Zurich Alternative Asset Management, LLC (“ZAAM”) of New York acquired the asset.
The newly completed state-of-the-art property was a build-to-suit for SouthWood Corporation, serving as their headquarters as well as a mission-critical production and distribution facility. 35,000 square feet of expansion area is available to accommodate the company’s future growth.
The property is situated on 12.3 acres at 4101 Celanese Road. Located just four miles from Interstate 77, the facility provides seamless access to the Charlotte MSA and the region’s world-class logistics infrastructure, including the Charlotte Douglas International Airport, Norfolk Southern CLT Intermodal Terminal, I-485 and I-85, the industrial and commercial super corridor that connects to the Raleigh-Durham, Greenville-Spartanburg and Atlanta metropolitan areas.
SouthWood Corporation HQ is the first delivery at Aspen Business Park, a new 1.8-million-square-foot master-planned industrial campus positioned on over 215 acres in York County. The industrial park will benefit from the region’s economic and demographic growth and low cost of business, attracting both corporations and residents.
The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Director Dave Andrews, Senior Managing Director Pete Pittroff, Managing Director Patrick Nally and Analyst Zach Lloyd.
ZAAM was represented in the acquisition by Roy Rosenbaum, Executive Director of Acquisitions and Sean Bannon, Managing Director and Head of US Real Estate.
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.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About The Keith Corporation
The Keith Corporation is a privately held, full-service commercial real estate firm. Headquartered in Charlotte, N.C., TKC has projects in 36 states, Mexico, Australia, Canada, and the United Kingdom. Developing over $4.4 billion worth of commercial real estate over the course of more than 400 projects, totaling in excess of 44 million square feet for a highly diverse clientele, The Keith Corporation has developed a reputation based on expertise, accountability and total client satisfaction on projects.
About Zurich Alternative Asset Management
ZAAM runs a national core and core-plus acquisition program out of New York which targets office, retail, industrial and multi-family properties and has directly acquired over $2 billion of assets since 2013. ZAAM also repositions and restructures non-core, value-added and opportunistic assets aggregating just under $1 billion. ZAAM additionally manages an open-ended third-party fund of approximately $500 million for international investors in core and core plus assets and continues to add to its balance sheet portfolio under management, which spans across 26 states. The core acquisition program is focused on 20 major markets throughout the United States.