LBA Realty/LBA Logistics Acquires RiverWest Industrial Park In Belmont For $70.1M | 192 Woodlawn St Belmont & 646 Cason Street | Zachary (Zach) Lloyd, Dave Andrews, Pete Pittroff | Industrial | Sale

Summary

Sale

NORTH CAROLINA

Industrial

1,220,000 sqft

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.

Players

All
4

Agents
3
Agencies
1

$70.1M Sold

$261.5M Sold

Senior Managing Director, Carolinas Office Co-Head

$404.1M Sold

JLL

Details

Deal Summary

SOLD

IMAGE: Scott Bortz, Dave Andrews, Pete Pittroff & Zachary (Zach) Lloyd DATE: 12/19/2023 ADDRESS: 192 Woodlawn St Belmont & 646 Cason Street MARKET: Belmont, NC ASSET TYPE: Industrial BUYER: LBA Realty/LBA Logistics SELLER: Scott Bortz - Tribek Properties BROKERS: Dave Andrews, Pete Pittroff & Zachary (Zach) Lloyd - JLL SALE PRICE: $70,100,000 SF: 610,000 ~ PPSF: $115 NOTE: Tribek Properties has sold RiverWest, a two-building industrial park in Belmont, for a total of $70.1 million. The industrial park, comprising buildings at 192 Woodlawn St. and 646 Cason St., offers over 610,000 square feet of industrial space and was fully leased at the time of the sale in late November, with JLL's capital markets team brokering the deal.

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Address192 Woodlawn St Belmont & 646 Cason Street

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