October 24, 2018
HFF secured $19.5 million in construction financing and equity placement for the development of Fort Prince Distribution Center, a 436,800-square-foot, Class A, bulk industrial warehouse building in Spartanburg, SC. HFF arranged joint venture equity from JDI Realty on behalf of the developer, Dallas-based Courtland Group. Additionally, HFF placed the $19.5 million, five-year construction loan with CrossHarbor Capital Partners.
Fort Prince Distribution Center will be a cross-dock building with 36-foot clear heights, 66 dock doors and two automatic drive-in doors. Situated on 56 acres in the West Side Industrial submarket, the one-story building is located just off of Interstate 85, which is known as the industrial backbone of the Southeastern U.S.
HFF’s Travis Anderson, Chris Norvell, Cory Fowler, Trent Niederberger and Patrick Nally represented the borrower.
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Tags: Development, Financing, Industrial
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