Somerset Properties Acquires Industrial Complex In Greensboro From Blue Ridge Industrial For $46.75M

201 Creek Ridge Road is an industrial asset located in Greensboro, NC. The property involved in this transaction spans 336,000 square feet and was sold for $46,750,000, which calculates to approximately $139.14 per square foot. This sale involved the South Elm Industrial Center, consisting of 13 buildings, with an occupancy rate of 80% at the time of sale.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $46,750,000
• Square Footage: 336,000
• Address: 201 Creek Ridge Road
• Market: Greensboro, NC
• Buyer: Somerset Properties
• Seller: Blue Ridge Industrial
• Price Per Square Foot: $139.14

Somerset Properties acquired the South Elm Industrial Center from an affiliate of Blue Ridge Industrial. This transaction highlights the roles of both the buyer and seller within the industrial real estate market, with the complex being significantly leased at the time of the acquisition.