H.I.G. Capital has completed the acquisition of a 565,000-square-foot industrial distribution facility in Huntsville, Ala., in an off-market transaction.
The property is 100 percent leased to a leading global household and bathroom fixture manufacturer and is directly adjacent to both the Huntsville International Airport (one of the largest international air cargo airports in the United States) and the Intermodal Center Rail Terminal, providing intrinsic value to the market’s base of advanced manufacturing, aviation, defense and biotech tenants. The property will provide attractive current cash-on-cash returns and an opportunity to create significant additional value through the leasing of excess land to third-party logistics and ecommerce providers.
