North Carolina Industrial Portfolio Trades for $71M
Cushman & Wakefield has arranged the $71 million sale of an industrial portfolio located in Charlotte and Raleigh-Durham, N.C.
The portfolio includes four properties totaling 869,916 square feet and is currently 88% leased to five tenants. The buildings include a 406,001-square-foot building located at 1001 Bond Street in Charlotte; a 187,000-square-foot building located at 4001 Performance Road in Charlotte; a 107,968-square-foot building located at 2710 Weck Drive in Durham and a 168,847-square-foot building located at 2910 Weck Drive in Durham.
Rob Cochran, Stewart Calhoun, Casey Masters, Nolan Ashton, David Finger, Sara Owen, Fermin Deoca and Eric Ridlehoover of Cushman & Wakefield represented the seller, funds managed by Rialto Capital Management LLC, in the transaction. DRA Advisors acquired the properties.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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