{"id":1004294324,"date":"2019-01-28T00:09:47","date_gmt":"2019-01-28T08:09:47","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004294324"},"modified":"2021-05-10T02:08:12","modified_gmt":"2021-05-10T10:08:12","slug":"thackeray-partners-jv-sells-nc-distribution-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/thackeray-partners-jv-sells-nc-distribution-center\/","title":{"rendered":"Thackeray Partners JV Sells NC Distribution Center"},"content":{"rendered":"<div id=\"attachment_1004294327\" style=\"width: 310px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004294327\" data-attachment-id=\"1004294327\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/thackeray-partners-jv-sells-nc-distribution-center\/north-70-distribution-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/North-70-Distribution-Center-e1548418099671.jpg\" data-orig-size=\"647,485\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;9&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D810&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1535555296&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;26&quot;,&quot;iso&quot;:&quot;160&quot;,&quot;shutter_speed&quot;:&quot;0.002&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"North 70 Distribution Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;North 70 Distribution Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/North-70-Distribution-Center-e1548418099671.jpg?w=647\" class=\"wp-image-1004294327 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/North-70-Distribution-Center-e1548418099671.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/North-70-Distribution-Center-e1548418099671.jpg 647w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/North-70-Distribution-Center-e1548418099671.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><p id=\"caption-attachment-1004294327\" class=\"wp-caption-text\">North 70 Distribution Center<\/p><\/div>\n<p>The joint venture between Thackeray Partners and Meridian Development Group has sold North 70 Distribution Center, a 259,934-square-foot industrial facility in Durham, N.C. NorthBridge Partners has paid a little over $16 million for the asset and took out an $8.8 million loan from Keybank National Association to finance the acquisition, according to the Durham county recorder.&nbsp;<\/p>\n<p>Located at 224 N. Hoover Road, the fully-fenced distribution center occupies 15.7 acres. The reinforced concrete construction offers front- and side-load possibilities, clear heights ranging from 21 to 23 feet, truck courts up to 195 feet deep and on-site trailer storage. The partnership had invested in capital improvements such as an updated front entrance, modern lighting and parking lot upgrades. According to HFF, which represented the seller, the center was fully leased at the time of the sale.<\/p>\n<p>North 70 Distribution Center is adjacent to U.S. Highway 70, Interstate 85 and the future I-885 (East End Connector) and is located almost 4 miles from Durham, 8 miles from Research Triangle Park and 12 miles from Raleigh-Durham International Airport.<\/p>\n<p>HFF&#8217;s Senior Managing Director Chris Norvell and Director Patrick Nally were part of the advisory team that worked on behalf of the joint venture.&nbsp;Norvell and Nally also represented the partnership between Somerset Properties and Thackeray Partners in the <a href=\"https:\/\/www.commercialsearch.com\/news\/somerset-properties-jv-sells-5-building-nc-industrial-portfolio\/\">$32 million sale<\/a> of a five-building portfolio in Greensboro, N.C., last June. &nbsp;<\/p>\n<p><em>Image courtesy of HFF<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston-based NorthBridge Partners acquired North 70 Distribution Center. The 260,000-square-foot facility in Durham was fully leased at the time of sale. <\/p>\n","protected":false},"author":748,"featured_media":1004294327,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21748,21783,21742,1604],"tags":[32792,32937,33385,46265],"class_list":["post-1004294324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-industrial","category-investment","category-latest","category-raleigh-durham","tag-hff","tag-keybank","tag-meridian-development","tag-thackeray-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Thackeray Partners JV Sells NC Distribution Center - 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\/thackeray-partners-jv-sells-nc-distribution-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Thackeray Partners JV Sells NC Distribution Center\" \/>\n<meta property=\"og:description\" content=\"Boston-based NorthBridge Partners acquired North 70 Distribution Center. The 260,000-square-foot facility in Durham was fully leased at the time of sale.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/thackeray-partners-jv-sells-nc-distribution-center\/\" \/>\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=\"2019-01-28T08:09:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-10T10:08:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/North-70-Distribution-Center-e1548418099671.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"647\" \/>\n\t<meta property=\"og:image:height\" content=\"485\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lucia Morosanu\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/thackeray-partners-jv-sells-nc-distribution-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/thackeray-partners-jv-sells-nc-distribution-center\/\",\"name\":\"Thackeray Partners JV Sells NC Distribution Center - 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