NC Industrial Asset Changes Hands for $28M
- Sep 30, 2016
Durham, N.C.—HFF recently closed the sale of a 453,788-square-foot, Class A industrial complex in Durham, N.C. Philadephia-based Stoltz Real Estate Partners acquired the Whilden Industrial Centre for $28 million.
Located at 2525 & 2532 Whilden Drive, Whilden Industrial Centre comprises two warehouse buildings that feature 22’ to 30’ clear heights, 40’ by 40’ column spacing and 150’ to 160’ deep truck courts with 65’ concrete aprons. The property was 100 percent leased at the time of the announcement.
Home to Kuehne + Nagel, Genband and Guardian Logistics, the buildings are positioned on 34.5 acres along Highway 55 with direct access to interstates 40 and 85 via Highway 147. The asset is located in the Research Triangle Park/Interstate 40 area, Raleigh-Durham’s largest submarket.
Senior Managing Director Chris Norvell led the HFF investment sales team representing the undisclosed seller.
”The Raleigh-Durham market continues to be one of the most active in the Carolinas for industrial investment sales, and investor appetite is particularly strong for Class A product in the RTP/I-40 Corridor and East Wake submarkets,” said Norvell in prepared remarks.
Image courtesy of HFF