Back Naples, Fla. – June 21, 2022 – Halstatt Real Estate Partners, a real estate private equity firm, today announced its commitment to develop a light industrial project located on Bibb Garrett Road in Huntsville, AL. Partnering with CaliforniaSouth Co. (CA South) – a real estate development and investment management firm based in Nashville, TN – the property will have two buildings totaling 306,380 square feet.
“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.”
The buildings have the flexibility to be demised into seven units of approximately 43,000 square feet each, with 32-foot clearing heights, 60-foot speed bays, and 130-foot truck courts. Additionally, the two buildings will have ample parking, with 390 car spaces, and 30 trailer spaces. Its prime location is directly in the path of progression for industrial development, which continues to push west, highlighting tenants’ desire to be situated close to I-65 for north/south access and I-565 for east/west access. This product type is ideal for regional and local users, catering towards last-mile distribution centers and ancillary services to the larger warehouse/manufacturing facilities nearby.
“We are thrilled to work with a new partner on this project. CA South, which, like Halstatt, is a woman-owned and managed business,” said Katie Sproul, chief executive officer, Halstatt. “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.”
“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.”
Halstatt Real Estate Partners identifies value add and opportunistic real estate projects throughout Florida, the Southeast, and Texas. The company partners with project sponsors to develop and implement a strategic business and capital improvement plan to maximize demand driven development and investment opportunities.