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Avison Young brokers $3M+ sale of Haw River industrial property
Charter Consultants, LLC diversifies with investment in Burlington, NC area trailer maintenance facility
Greenville, SC –Avison Young’s Chris Fraser, CCIM, Principal and Managing Director of the firm’s Greenville office today announced that it represented Charter Consultants, LLC in the $3.1M acquisition of an industrial property located at 1360 Truby Drive in Haw River, North Carolina. The 27,084-square-foot (sf) trailer maintenance and storage facility is under a long-term lease agreement to American Trailer Rental Group (ATRG).Charter Consultants, LLC, the buyer, was represented by Gary Lyons, Principal, CCIM, SIOR who is based in Avison Young’s Greenville office. The seller was Burton & Burton, LLC and financing was provided by Summit Credit Union.
“It was a pleasure working with Charter Consultants, and specifically Norman George, on this transaction,” said Lyons. “The property is extraordinarily well-located for the business segment it serves. I believe this investment will serve Charter Consultants well into the future.”
The property is occupied by ATRG, a regional provider of trailer rental and transportation services for a diverse range of industries including warehousing, distribution, transportation, logistics, manufacturing, retail, and construction. ATRG has grown from two locations, and approximately 5,400 units in 2017 to nearly 30 locations in the U.S. and Canada with more than 30,000 units.
“Avison Young provided valuable insight, and guidance, throughout the transaction,” said Norman George, Principal, of Charter Consultants. “Gary’s understanding of the changing market conditions and the motivations behind my timeline was critical to a successful transaction. We would have been challenged to complete this transaction without his steady hand.”