AEW Capital Management & McCraney Property Co Acquire Industrial Asset From Stanley Black & Decker For $52M

The property asset involved in this transaction is a 55.8-acre industrial facility located at 1000 Stanley Drive, Concord, NC. The facility spans 928,283 square feet and was sold for $52,000,000, which equates to $56 per square foot.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $52,000,000
• Address: 1000 Stanley Drive
• Market: Concord, NC
• Acres: 55.8
• Square Footage: 928,283
• Price per Square Foot: $56
• Buyer: AEW Capital Management & McCraney Property Co
• Seller: Stanley Black & Decker
• Brokers: Rob Cochran & Bill Harrison - Cushman & Wakefield

AEW Capital Management and McCraney Property Co. have acquired the facility along with an additional 74 acres adjacent to the property, marking a significant expansion of their industrial assets in the region.