Former Arvato plant at 108 Monticello Road sold

Press release from Whitney Commercial Real Estate Services:

Former Arvato Plant at 108 Monticello Road Under New Ownership

ASHEVILLE, N.C. – Whitney Commercial Real Estate Services is pleased to announce that Tim Harrison, CCIM, MBA and senior Commercial Broker with Whitney Commercial, has completed a large transaction for the sale of 108 Monticello Road in Weaverville, NC. Referral for the project came from Cushman & Wakefield. A long-time employer in the region, Arvato closed down production of their digital services here in 2016. The sale price of $8.1 million brings this massive property’s several-month journey on the market to a close.

This building’s 416,550 SF on 33.5 acres is located at the intersection of I-26 and US 25N/70W at Exit 19A, with traffic counts of 44,000 vehicles per day on I-26. Directly across from the Northridge Commons retail center, the building’s neighbors include Lowe’s and Walmart. The Weaver Blvd. commercial corridor just across I-26 includes numerous retail, grocery and food businesses. Weaverville’s Main Street is 1.5 miles away, and it is 6 miles from downtown Asheville.

The Arvato plant, formerly owned and operated by Bertelsmann SE & Co., was shuttered in a consolidation move. This 100% air-conditioned and wet sprinkled, prime manufacturing and distribution facility includes 85,000 SF of high-quality office space, 217,000 SF of production area, and 115,000 SF of warehouse with a 34’ ceiling high-bay storage area. The distribution area includes 17 loading docks with levelers, and 2 drive-in bays. There is an additional 3,200 SF data center, 690 parking spaces, and freight trailer parking.

The new owner is Dr. Frank King, King Holdings IV, LLC, who is taking over the property as an investment venture, providing leasing space to area industry and service companies. Dr. King is known in the region for his company, King Bio, an FDA-registered pharmaceutical company with over 100 employees. His Broker, Donna Logan of Cornerstone Real Estate Consultants, Inc., is actively marketing the property for leasing.