Somerset Properties Acquires South Elm Industrial Center In Greensboro From Blue Ridge Industrial For $46.75M

The industrial property involved in this transaction is located at 205 Creek Ridge Road in Greensboro, NC. This asset features a total square footage of 336,000 and was sold for a transaction amount of $46,750,000. The price per square foot stands at $139.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $46,750,000
• Buyer: Somerset Properties
• Seller: Blue Ridge Industrial
• Broker: Neal Colligan - Largo Capital
• Square Footage: 336,000
• Price per Square Foot: $139

Neal Colligan of Largo Capital was instrumental in this deal, arranging a $33.9 million floating-rate mortgage to facilitate the acquisition and lease-up of the property by Somerset Properties from Blue Ridge Industrial.