LBA Realty/LBA Logistics Acquires RiverWest Industrial Park In Belmont For $70.1M

Tribek Properties has sold RiverWest, a two-building industrial park in Belmont, for a total of $70.1 million. The industrial park, located at 192 Woodlawn St. and 646 Cason St., offers over 610,000 square feet of industrial space. It was fully leased at the time of the sale in late November.

Summary of transaction details

• Property Type: Industrial
• Sale Price: $70,100,000
• Square Footage: 610,000
• Market: Belmont, NC

The buyer, LBA Realty/LBA Logistics, acquired the industrial park from Scott Bortz, the seller and owner of Tribek Properties. The deal was brokered by Dave Andrews, Pete Pittroff, and Zachary (Zach) Lloyd from JLL, representing both the buyer and the seller.

Notably, the industrial park was fully leased at the time of the sale, indicating its attractive potential as an investment. The successful transaction showcases the thriving industrial market in Belmont, NC.