Nuveen Global Investments Acquires Six-Property Industrial Portfolio in Southeast for $272M
KANSAS CITY, MO. — Nuveen Global Investments LLC, a TIAA company, has acquired a six-property industrial portfolio in the Southeast for $272 million. McCraney Property Co. and Northwestern Mutual sold the 3.5 million-square-foot portfolio, which was built on a speculative basis. Chris Riley, Frank Fallon, and Trey Embrey of CBRE represented the sellers, Northwestern Mutual and McCraney Property Co., in the transaction.
The portfolio features four Florida properties, including Country Line Logistics Center, which totals 1.1 million square feet in Plant City; Park 27, which spans 602,972 square feet in Davenport; 27 Logistics Park, which comprises 207,676 square feet in Davenport; and I-4 Commerce Center, which totals 45,340 square feet in Lake Mary.
The remaining two properties are the 611,698-square-foot 985 Lanier Logistics in Buford, Ga.; and the 350,687-square-foot Airport South in Charlotte. All six buildings were fully leased at the time of sale.