CBRE Arranges Sale of Two-Property Industrial Portfolio in Martinsville for $34M
Commercial real estate services and investment firm CBRE has facilitated the sale of 3375 and 3379 Joseph Martin Highway, a two-building industrial portfolio totaling 889,672 square feet located in Martinsville, VA for a total of $33.5 million.
Radial purchased the industrial park from Bowles, LLC.
Bo Cashman, Jonathan Beard, Michael Hines, Brian Fiumara, Brad Ruppel and Joe Hill with CBRE arranged the transaction on behalf of the seller with support from CBRE’s Jason Hetherington and Brad Lowry.
“The volatility in the capital markets presented challenges to completing the sale, but logistics properties remain a top choice for investors and the ownership had built highly functional assets that attracted strong tenants enabling us to execute on the sale despite the challenges,” said Cashman.
The properties are situated on the VA and NC border approximately 43 miles from Greensboro, NC, 49 miles to Winston-Salem, NC and less than two hours from Raleigh, NC.