Raleigh Industrial Portfolio Trades for $59M

JLL has arranged the $59 million sale of Northside Center, a 15-building light industrial and office portfolio in the Raleigh-Durham metro.

Located on more than 33 acres, the 548,560-square-foot portfolio is adjacent to Interstate 440 and offers tenants easy access to downtown Raleigh and North Hills. Northside Center is 98% leased and comprises seven distribution/industrial warehouses, three multi-story office buildings and four single-story/flex properties.

Valerie Derrick, John Mikels, Chris Norvell, Scot Humphrey and Justin Good of JLL represented the seller, a private family trust, in the transaction. The Spectrum Cos. purchased the portfolio in partnership with FCA Partners.

For comments, questions or concerns, please contact David Cohen