Intersect Development Group Closes Sale of Greensboro Logistics Facility to BentallGreenOak
Atlanta-based Intersect Development Group (“Intersect”) announced today that it has finalized the sale of its 475,935 sq ft., Class “A”, cross-dock logistics facility in Whitsett, NC to BentallGreenOak, a leading, global real estate investment management company.
Located on Konica Drive, and sitting directly on I-85 / I-40, the building represented Intersect’s first major project and it was completed in February 2022. Duke Energy of the Carolinas will be a primary tenant.
“We were very specific in choosing this I-40 / I-85 corridor as the location for our very first project. The corridor from Charlotte through Greensboro to Raleigh has seen consistent population growth over the last decade and we are proud to be part of that growth. We believe the macro environment in this corridor will continue to be a catalyst for strong growth and look forward to continuing to develop in the Greensboro to Raleigh corridor,” Intersect Development Group founder Scott Brown said today.
“Industrial growth across the Piedmont Triad has been robust in recent years and is poised to continue for the foreseeable future,” said Joe Paskov, Vice President at BentallGreenOak. “We are believers in the I-40 / I-85 Corridor as a Southeast connector, and we are thrilled to close on such a high-quality asset with interstate adjacency that we expect to garner significant tenant interest for years to come.”
“As fortunate as we felt to have the opportunity to develop on such a great site, we were more fortunate to have the opportunity to work with BentallGreenOak on the disposition. They are a first-class organization, and we could not be more pleased to see this building go into their hands. There is no better proof of concept and location than by the quality of the initial Tenant and, ultimately, the Purchaser,” Brown concluded.
Intersect’s additional projects that are in development include a Phase II in Greensboro, NC, a Phase II in Huntsville, AL, new developments in Gastonia, NC and a multi-phase project outside Orlando, FL.
ABOUT:
Intersect Development Group was founded in 2019, based in Atlanta, Georgia with developments throughout of the high growth corridors in the Southeastern United States. Scott C. Brown is the founding partner of Intersect Development. For more information, please visit: https://intersect-group.com/
BentallGreenOak is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with approximately $78 billion USD of assets under management (as of March 31, 2022) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BentallGreenOak has offices in 28 cities across thirteen countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets.
BentallGreenOak is a part of SLC Management, which is the alternatives asset management business of Sun Life.
The assets under management shown above includes real estate equity and mortgage investments managed by the BentallGreenOak group of companies and their affiliates, and as of 1Q21, includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment.
For more information, please visit www.bentallgreenoak.com