JLL Capital Markets led the sales efforts for 309 Chapanoke Road, a 94K SF mission-critical industrial facility
News release
19 September 2024
Highly-infill logistics facility in Raleigh, NC trades hands
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CHARLOTTE, Sept. 19, 2024 – JLL Capital Markets announced today the sale of 309 Chapanoke Road, an infill, 94,368 square foot industrial facility located in Raleigh, North Carolina.
JLL represented the seller, Beacon Partners, in the transaction, while NorthBridge Partners acquired the asset.
The property is fully leased to the State of North Carolina (S&P: AAA) and serves as a mission-critical mail sortation and delivery center. Its centralized location near the state capital enables efficient postal services to all state agencies throughout North Carolina.
Additionally, advantageously positioned adjacent to US-401, less than two miles from I-40 and just three miles from Downtown Raleigh, the property offers exceptional connectivity to the booming Raleigh-Durham metro and its core demand drivers, including Raleigh-Durham International Airport (RDU) and Research Triangle Park (RTP).
The JLL Investment Sales and Advisory team was led by Director Josh Mcardle, Senior Managing Director Pete Pittroff, Senior Director Dave Andrews, Director Michael Scarnato and Analyst Michael Lewis.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Beacon Partners
Beacon Partners is a Carolinas-based commercial real estate firm specializing in the development, acquisition, leasing, and management of industrial, office and mixed-use properties. Beacon leases, owns, or manages more than 17.5 million square feet of commercial space throughout the Carolinas. For more information on Beacon Partners and its properties, visit www.beacondevelopment.com.
About NorthBridge Partners
NorthBridge Partners LLC, founded in 2014, is a vertically integrated real estate manager that invests in infill industrial properties with a primary focus on select coastal U.S. markets located near major population centers and ports.
For more information, please visit www.northbridgecre.com