CBRE Spearheads Raleigh-Area Industrial Sale
Senior Associate Jimmy Poole negotiated on behalf of the seller in the 1031 exchange transaction.
3826 Generosity Court. Image via Google Maps
CBRE|Raleigh has closed the disposition of a 9,000-square-foot flex/industrial property in Garner, N.C. Senior Associate Jimmy Poole assisted the seller, Roofers Supply of Greenville. The building traded for $1.2 million in a sale-leaseback, off-market transaction.
According to public records, the buyer was Right Choice Realty of NC. The new owner financed the deal with a $992,000 mortgage provided by Fidelity Bank. The acquisition was part of a 1031 exchange.
Located on a 1-acre parcel at 3826 Generosity Court, the single-story facility was completed in 2009. The seller occupies the building on a 12-year triple-net lease. The property is close to Interstate 40 and some 6 miles southeast of downtown Raleigh. Other facilities in the industrial corridor include an Amazon distribution center and a Pepsi Bottling Ventures plant.
Earlier this month, CBRE|Raleigh brokered the $5.7 million sale of a 14,915-square-foot medical office building in Durham, N.C. The company represented Urban Investment Research Corp. in the deal.
You must be logged in to post a comment.