Major Real Estate Deal Highlights Growth of Solar Manufacturing in North Alabama

Ambrose, a leading vertically integrated investment manager specializing in Class A industrial, logistics and e-commerce real estate, has announced the sale of a 554,000-square-foot, Class A distribution hub situated on more than 40 acres at 1250 Cooperage Way in Trinity, AL, located within the Greater Huntsville region. The modern facility is fully occupied by First Solar, a U.S.-based photovoltaic solar technology and manufacturing company. The buyer is global investment bank Goldman Sachs.

Ambrose developed the asset, working closely with First Solar end-to-end throughout the design, construction and financing of the project. The state-of-the-art facility includes 40-foot clear heights, 40 docks, 80 auto parking spots, 36 trailer parking spots and truck courts with 150-foot depths. The facility houses machinery, raw materials and equipment for use in First Solar’s adjacent, recently completed manufacturing facility.

“This successful investment exit underscores the Ambrose team’s multidisciplinary capability in the development and strategic positioning of this asset to achieve an attractive outcome amid the current market environment,” said Ambrose Founder and CEO Aasif Bade. “This transaction is also indicative of the institutional market’s appetite for modern, high-quality Class A logistics facilities that meet the needs of today’s sophisticated, tech-forward tenants.”

First Solar, founded in 1999, is America’s leading photovoltaic solar technology and manufacturing company, and is the only U.S.-headquartered company among the world’s largest solar manufacturers. Importantly, the distribution hub is located less than one mile from First Solar’s newly opened $1.1B production facility, and it is part of an investment strategy that will scale First Solar’s manufacturing footprint in the U.S. to more than 10 GWDC (Gigawatt Direct Current) and generate over 700 new jobs in the Alabama market.