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Nandina Properties Acquires Wooten Family Warehouse Portfolio - 52 Properties

DATELINE, April 12, 2016 – 

Statesville, NC – Nandina Properties V, LLC has acquired the Wooten family warehouse leasing business. 

Lonnie Wooten started with a single building 44 years ago and built a portfolio of rental warehouses ranging from 5,000 to 325,000 square feet. Nandina Properties founder, Walt Glazer said, “I first met Lonnie nearly 20 years ago while looking to rent space for my manufacturing business, Speedball Art Products. Lonnie was a great landlord for us back then, and I’ve always admired his vision in building this business. When you think of all the companies that have come to Statesville to operate in Wooten Family buildings and the thousands of good jobs created in our community, it really is remarkable.” 

Lonnie stated that LR Wooten Building Company, the construction arm of the family business that has built and enhanced many of the commercial buildings in Iredell and surrounding counties, would continue with its main focus commercial construction. “The Wooten family feels fortunate to have reached an agreement with Walt and his family who share our values and intend to carry on our tradition of serving both leading and up-and-coming companies in the Statesville area.” 

Nandina Properties now owns more than 50 buildings totaling 2.4 million square feet in Iredell, Catawba, and Forsyth counties. Collin Santorine, Property Manager, said, “We value the long-term relationships that the Wooten family built with their tenants and look forward to serving them in the future. We think this area is a great place to do business and we are working to attract more industry and jobs to the community.” 

Grant Miller, SIOR of Colliers International | Charlotte advised Nandina Properties V, LLC on the acquisition.

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