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Blue Ridge Buys $105M Triad-Region Industrial Portfolio
Blue Ridge Industrial has bought a batch of area industrial properties from Dogwood Propco. The Triad Business Journal reports they paid $105 million for the portfolio, nearly double what Dogwood paid Pope Cos., the original developer of the properties in 2019. Blue Ridge Industrial bought 38 buildings on 23 parcels. The combined portfolio of projects adds up to 1.43 million square feet of space on over 125 acres. Most of the properties are near Kernersville, just outside Winston-Salem.
The portfolio includes buildings of 277,250, 216,910 and 112,500 square feet. The largest parcel is the 30.15-acre tract at 1203 South Park Drive which contains 277,250 square feet of building space.
Since 2018, BRI has acquired 47 industrial buildings in six markets, including Charlotte and Raleigh, totaling 2 million square feet. Other BRI transactions have been in markets in Texas, Tennessee and Nevada.
- ◦Sale/Acquisition
