{"id":1004052826,"date":"2012-11-27T09:13:32","date_gmt":"2012-11-27T17:13:32","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=82603"},"modified":"2022-12-05T00:07:43","modified_gmt":"2022-12-05T08:07:43","slug":"pergo-distribution-center-in-garner-sells-for-8m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pergo-distribution-center-in-garner-sells-for-8m\/","title":{"rendered":"Pergo Distribution Center in Garner Sells for $8M"},"content":{"rendered":"<p><em><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/11\/Pergo-Distribution-Center.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-82604\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/11\/Pergo-Distribution-Center.jpg\" alt=\"\" width=\"300\" height=\"180\" \/><\/a>by Adriana Pop, Associate Editor<\/em><\/p>\n<p>Exeter Property Group has acquired the Pergo distribution center in the Greenfield business park in Garner for $8 million. According to the <em>Triangle Business Journal<\/em>, the property was sold by four family trust groups working through First American Exchange Co., an intermediary for 1031 tax-deferred real estate exchanges.<\/p>\n<p>CBRE Raleigh\u2019s J.D. \u201cButch\u201d Miller, managing director and Ann-Stewart Patterson, senior associate, represented First American in the transaction.<\/p>\n<p>The distribution center was built in 2002 and offers 175,230 square feet of warehouse space coupled with 4,770 square-feet of office space on a nearly 11-acre lot. It is fully leased to Pergo, a widely known laminate flooring manufacturer. In May 2012, CBRE renewed the Pergo lease on behalf of the landlord.<\/p>\n<p>\u201cThe renewal stabilized the asset and created an opportunity to take the asset to market for disposition,\u201d Miller stated in a news release.<\/p>\n<p>In regional news, Lennar Corp. is planning up to 379 houses and townhomes on the north side of the WakeMed Soccer Park in Cary. The plan is one of the area\u2019s largest proposed developments and includes 14 acres of commercial space.<\/p>\n<p><em>Cary News<\/em> reports that the project would be developed on about 97 acres of land situated west of the Cary-Raleigh border, on the Chatham Street-Hillsborough Street corridor. The homes would sit at the corner of Cary Towne Boulevard and Trinity Road, between the soccer stadium and the Cary Towne Center shopping mall.<\/p>\n<p>The property is now in the process of\u00a0being rezoned for high-density mixed-use development. If the plan is approved by the Cary Town Council, the developer intends to purchase the project site from the state for approximately $15 million.<\/p>\n<p><em>Photo credits: CBRE Raleigh<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Exeter Property Group has acquired the Pergo distribution center in the Greenfield business park in Garner for $8 million. According to the Triangle Business Journal, the property was sold by four family trust groups working through First American Exchange Co., an intermediary for 1031 tax-deferred real estate exchanges. CBRE Raleigh&rsquo;s J.D. &ldquo;Butch&rdquo; Miller, managing director and Ann-Stewart Patterson, senior associate, represented First American in the transaction. The distribution center was built in 2002 and offers 175,230 square feet of warehouse space coupled with 4,770 square-feet of office space on a nearly 11-acre lot. It is fully leased to Pergo, a widely known laminate flooring manufacturer. In May 2012, CBRE renewed the Pergo lease on behalf of the landlord.<\/p>\n","protected":false},"author":260,"featured_media":1004506410,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1604],"tags":[1815],"class_list":["post-1004052826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-raleigh-durham","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Pergo Distribution Center in Garner Sells for $8M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/pergo-distribution-center-in-garner-sells-for-8m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pergo Distribution Center in Garner Sells for $8M\" \/>\n<meta property=\"og:description\" content=\"Exeter Property Group has acquired the Pergo distribution center in the Greenfield business park in Garner for $8 million. According to the Triangle Business Journal, the property was sold by four family trust groups working through First American Exchange Co., an intermediary for 1031 tax-deferred real estate exchanges. CBRE Raleigh&rsquo;s J.D. &ldquo;Butch&rdquo; Miller, managing director and Ann-Stewart Patterson, senior associate, represented First American in the transaction. The distribution center was built in 2002 and offers 175,230 square feet of warehouse space coupled with 4,770 square-feet of office space on a nearly 11-acre lot. It is fully leased to Pergo, a widely known laminate flooring manufacturer. In May 2012, CBRE renewed the Pergo lease on behalf of the landlord.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/pergo-distribution-center-in-garner-sells-for-8m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-11-27T17:13:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-05T08:07:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Pergo-Distribution-Center.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pergo-distribution-center-in-garner-sells-for-8m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pergo-distribution-center-in-garner-sells-for-8m\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"Pergo Distribution Center in Garner Sells for $8M\",\"datePublished\":\"2012-11-27T17:13:32+00:00\",\"dateModified\":\"2022-12-05T08:07:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pergo-distribution-center-in-garner-sells-for-8m\\\/\"},\"wordCount\":283,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pergo-distribution-center-in-garner-sells-for-8m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/Pergo-Distribution-Center.jpg\",\"keywords\":[\"National\"],\"articleSection\":[\"News\",\"Raleigh-Durham\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pergo-distribution-center-in-garner-sells-for-8m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pergo-distribution-center-in-garner-sells-for-8m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pergo-distribution-center-in-garner-sells-for-8m\\\/\",\"name\":\"Pergo Distribution Center in Garner Sells for $8M - 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