NorthBridge Partners Buys 259,934 SF Distribution Center in Raleigh-Durham for $16.025M

January 22, 2019 – HFF announces the $16.025 million sale of North 70 Distribution Center, a 259,934-square-foot distribution center fully leased in Durham, North Carolina. The HFF team represented...
North-70-Distribution-Center

January 22, 2019 – HFF announces the $16.025 million sale of North 70 Distribution Center, a 259,934-square-foot distribution center fully leased in Durham, North Carolina.

The HFF team represented the seller, a partnership between Thackeray Partners and Meridian Development Group. NorthBridge Partners purchased the asset.

North 70 Distribution Center recently underwent significant capital improvements, including upgraded lighting, new exterior paint, updated front entrances, fresh landscaping and parking lot upgrades. The front-and side-load facility features clear heights ranging from 21 to 23 feet, truck courts up to 195 feet deep and expansive trailer storage on-site. Situated on a fully fenced 15.74-acre lot at 224 North Hoover Road, the property is adjacent to U.S. Highway 70, Interstate 85 and the future 885 (East End Connector), all of which provides access to nearly 200,000 people within a 10-minute drive. Additionally, North 70 Distribution Center is three miles from downtown Durham, six miles from Research Triangle Park and 12 miles from the Raleigh-Durham International Airport.

The HFF investment advisory team representing the seller consisted of senior managing director Chris Norvell and director Patrick Nally.

Categories
AcquisitionCommercialDealsIndustrialNationalRaleigh-DurhamSouth

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