NAPLES, Fla. — Regardless of the state of the economy, Halstatt Real Estate Partners is betting the need for distribution centers will remain high.
The Naples, Fla.-based company has partnered with CaliforniaSouth Co., a real estate investment firm based in Nashville, to build a more than-300,000 square-foot light industrial development in Limestone County.
The two-building project is on Bibb Garrett Road in Tanner, 10 minutes from Madison County and 10 minutes from Decatur.
The location is becoming a hot spot for industrial development. Bibb Garrett Road is being upgraded to a three-lane highway as the developments push west as industry prefers close proximity to I-65 and I-565.
“Even in this period of economic volatility, demand for well-located, newly constructed distribution centers is strong,” said Peggy Lamb, principal, Halstatt Real Estate Partners. “This project provided an attractive opportunity to build a light industrial complex in a prime location.
“The property is located within the rapidly expanding Greenbrier submarket, which is home to numerous Fortune 500 companies, and continues to see unprecedented growth across all asset classes. This location is also near major transportation routes, benefiting from its proximity to the I-65/I-565 highway thoroughfares.”
Logistically, the location is ideal for regional and local users. It caters to last-mile distribution centers and ancillary services to the larger warehouse/manufacturing facilities nearby.
“We could not be more excited to be working with Halstatt Real Estate Partners,” said Meg Epstein, CEO of CA South. “Huntsville was recently named by the US News and World Report as the Best Place to Live for 2022, showing the vitality and versatility of this location both to the small business community and to families alike.”
Both buildings consist of seven 43,000 square-foot units with 32-foot clearing heights, 60-foot speed bays, and 130-foot truck courts. There will be ample parking with 390 car spaces, and 30 trailer spaces.
Katie Sproul, chief executive officer at Halstatt, said they were thrilled to work with a new partner on this project.
“CA South, which, like Halstatt, is a woman-owned and managed business,” Sproul said. “This partnership stands as a testament to our continued commitment to work with a diverse set of business operators.
“Even though this is our first partnership with CA South, we are very optimistic on the long-term prospects for this development and similar product types across the Southeast.”
Halstatt Real Estate Partners is a family- and woman-owned real estate private equity firm with more than $1 billion real estate assets in the Southeast. The firm is part of the Barron Gift Collier group in Florida.
This project is CA South’s first foray outside Tennessee. The company has more than $1 billion worth of projects under development. CA South is pursuing 1.5 million square feet of industrial projects, five residential condo projects, and five multifamily projects.
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