Gladstone Acquires Central AL Industrial Asset

Located 20 miles from Tuscaloosa, the building encompasses more than 125,000 square feet of manufacturing and distribution space, purpose-built for Truck and Wheel USA Corp.

Gladstone Commercial Corp. has acquired a 127,444-square-foot industrial property from Graham & Co. in Vance, Ala., for $14.3 million. The initial cap rate for the structure was 6.98 percent, with an average cap rate of 7.62 percent.

Located at 11198 Will Walker Road, the property sits on a 14-acre parcel just north of Interstate 20 at the M-Class Boulevard exit. The build-to-suit asset is fully leased to Truck and Wheel USA Corp. for a 10-year term. The company, which moved into the building at the beginning of January, is providing wheels and tires to the expanding Tuscaloosa Mercedes-Benz facility in the area. The main buildings of the Mercedes-Benz campus are situated within two miles, and the city of Tuscaloosa is 20 miles to the west…

Gladstone Acquires Central AL Industrial Asset

Categories : Finance

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