Crescent Communities sold AXIAL Liberty Commerce, an industrial facility located in Greensboro, to Hoffman & Hoffman. Hoffman & Hoffman, an HVAC company, paid $23.5 million for the warehouse.
The North Carolina Economic Investment Committee okayed an incentive package of up to $2.13 million for Hoffman & Hoffman late last year. In return, the company is required to invest $40 million in the new facility by 2029.
The development spans 173,280 square feet across 18 acres. The rear-load facility includes 2,804 square feet of modern spec office space.Â
Financial partners on the development include First Horizon (lender), Crescent Communities Construction (general contractor), and DMA Architecture (architects).
Crescent Communities was advised by Jason Ofsanko and Jordan Mitchell with Cushman & Wakefield on the disposition.Â
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