Transactions - JULY 11, 2019

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North Signal Capital and Westport Capital Partners JV sells new industrial facility

by Larry Gray

A joint venture between North Signal Capital and a fund managed by Westport Capital Partners has sold a newly delivered, state-of-the-art distribution and light assembly facility that was a build-to-suit for Science Applications International Corp. (SAIC) in Charleston, S.C. The 313,650-square-foot property sold for $35.5 million to San Francisco–based real estate investment manager Stockbridge. HFF marketed the property for the sellers.

Located at 7413 Magi Road on 23 acres, the SAIC build-to-suit is 100 percent leased on a triple-net basis to SAIC, one of the U.S. government’s top defense contractors. Delivered in June 2019, the facility features a minimum 32-foot clear height, ESFR sprinkler system, a fully conditioned warehouse and tilt-up concrete construction with an attractive glass-lined facade.

“This transaction represented an opportunity to acquire a true trophy-quality, core industrial asset in the land constrained Hanahan/North Rhett submarket,” sai

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