SRS Real Estate Partners’ National Net Lease Group has brokered the $20.3 million sale of a 388,540-square-foot industrial building in Ashville, N.C.
Located on more than 27 acres, the property was built in 1959 as a headquarters for Gerber Baby Food. It was most recently renovated in 2014 and is fully occupied by several tenants including SRS Distribution, GF Linamar, and U-Haul, among others. It is adjacent to Norfolk & Southern Railroad and features an onsite rail spur.
Jack Cornell and Max Finn of SRS represented the seller, a North Carolina-based private investor, in the transaction. The buyer was a Florida-based private investor.