{"id":1004712275,"date":"2024-04-30T01:42:36","date_gmt":"2024-04-30T09:42:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004712275"},"modified":"2024-04-30T04:37:26","modified_gmt":"2024-04-30T12:37:26","slug":"stream-realty-tapped-to-lease-1-4-msf-industrial-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/stream-realty-tapped-to-lease-1-4-msf-industrial-portfolio\/","title":{"rendered":"Stream Tapped to Lease 1.4 MSF Industrial Portfolio"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"601\" data-attachment-id=\"1004712331\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/4300-old-greensboro-drn0430-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/4300-old-greensboro-drn0430-edited.jpg\" data-orig-size=\"800,601\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;5.6&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;L2D-20c&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1713801687&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;12.29&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.0015625&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"4300-old-greensboro-drn0430\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;4300 Old Greensboro Rd. exterior. Image courtesy of Stream Realty Partners&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/4300-old-greensboro-drn0430-edited.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/4300-old-greensboro-drn0430-edited.jpg\" alt=\"Old Greensboro Road buildings in North Carolina\" class=\"wp-image-1004712331\" style=\"width:350px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/4300-old-greensboro-drn0430-edited.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/4300-old-greensboro-drn0430-edited.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/4300-old-greensboro-drn0430-edited.jpg?resize=768,577 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><figcaption class=\"wp-element-caption\">The industrial portfolio comprises a total of 28 buildings. <em>Image by Cleary Sky Images, courtesy of Stream Realty Partners<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Blue Ridge Industrial has selected Stream Realty Partners as leasing agent for a 1.4 million-square-foot portfolio. Totaling 28 buildings, the assets are spread across North Carolina\u2019s Triad area.<\/p>\n\n\n\n<p>Stream\u2019s Managing Director Jason Schnittger, alongside Senior Vice President Bradley Dunn and Associate Parker Byrd, will spearhead leasing at these Blue Ridge properties.<\/p>\n\n\n\n<p>&#8220;Newly constructed facilities in the Carolinas typically cater to tenants larger than 75,000 square feet,&#8221; Dunn told <em>Commercial Property Executive.<\/em> &#8220;Blue Ridge Industrial is completing an extensive capital program at these second-generation properties that will include amenities like sprinklers, LED lights and new office areas that are characteristic of new buildings but at a price point and size range that is accessible to tenants with smaller footprints. This will allow the 2,000 to 50,000-square-foot tenant to access these important features.&#8221;<\/p>\n\n\n\n<p>Dunn continued to explain that these improvements are key due to the majority of tenants in the area seeking this type of space in the market.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/staying-busy-when-industrial-momentum-hits-the-brakes\/\">Staying Busy When Industrial Momentum Hits the Breaks<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>In the first quarter of this year, industrial asking rates in Greensboro\/Winston-Salem remained mostly flat, a recent Cushman &amp; Wakefield report shows. Further, the vacancy rate was up 4.5 percent on a year-over-year basis.<\/p>\n\n\n\n<p>One of the significant industrial projects in the market is Southeast 85 PowerPlex, a 1.5 million-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/carroll-industrial-taps-cushman-wakefield-to-lease-1-5-msf-in-triad-region\/\">master-planned complex <\/a>in Greensboro, N.C., set for completion in 2025. Carroll Industrial Development appointed Cushman &amp; Wakefield as its leasing agent earlier this month.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-portfolio-specifics\">Portfolio specifics<\/h2>\n\n\n\n<p>Blue Ridge <a href=\"https:\/\/www.commercialsearch.com\/news\/north-carolina-industrial-portfolio-changes-hands-for-105m\/\">acquired the portfolio<\/a>, which was 96.4 percent leased at the time, in October. An affiliate of Dogwood Industrial Properties sold the assets for $105 million.<\/p>\n\n\n\n<p>Most of the buildings are part of the South Park Business Center in Kernersville, N.C., between Interstate 40 and Salem Parkway. Totaling 1.2 million square feet, the facilities have flexible, single-tenant and multi-tenant layouts. The properties are in between Greensboro and Winston-Salem, located approximately 24 miles and 5 miles away, respectively.<\/p>\n\n\n\n<p>Included in the portfolio are mid-bay, shallow facilities such as 4300 and 4320 Greensboro Road in Winston Salem, N.C. Completed in 1980 and 1986, respectively, the properties encompass a total of 160,000 square feet.<\/p>\n\n\n\n<p>Another second-generation mid-bay facility is in Kernersville at 1459 Brookford Road. The 48,860-square-foot building came online in 2001.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The properties are spread across North Carolina&#8217;s Triad area.<\/p>\n","protected":false},"author":3006,"featured_media":1004712276,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21748,21742,21785,32781],"tags":[32799,33358],"class_list":["post-1004712275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-industrial","category-latest","category-property-management","category-southeast","tag-cushman-wakefield","tag-stream-realty-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>Stream Tapped to Lease 1.4 MSF Industrial Portfolio - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Blue Ridge Industrial\u2019s North Carolina portfolio spans 28 buildings. 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