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William L. Manley Of Calare Properties Acquires Industrial Facility In Durham For $28.75M

Property Image
SOLD
$28,750,000
William L. Manley
Robert Feurle

North Carolina

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Industrial183,700 SF
Sold 07/23/2025
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Property Image
SOLD

William L. Manley Of Calare Properties Acquires Industrial Facility In Durham For $28.75M

3028 East Cornwallis Road

See Similar Deals
Industrial183,700 SF
Sold 07/23/2025
William L. Manley
Robert Feurle
the dealplayerscompscontact
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Summary

NORTH CAROLINA
Asset Type:Industrial
Price Per Square Foot:$156
Total Square Footage:183,700 SF
Transaction Type:Sale

An industrial asset located at 3028 East Cornwallis Road in Durham, NC, was sold for $28,750,000. The facility spans a total of 183,700 square feet, resulting in a price per square foot of $157.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $28,750,000
  • Address: 3028 East Cornwallis Road
  • Market: Durham, NC
  • Square Footage: 183,700
  • Price Per Square Foot: $157
  • Buyer: William L. Manley - Calare Properties
  • Seller: Robert Feurle - Wolfspeed

Calare Properties, represented by William L. Manley, acquired the tech manufacturing facility from Wolfspeed, led by seller Robert Feurle. This transaction marks Calare's expansion into the North Carolina region.

Players

William L. Manley
Calare Properties
William L. Manley
1 deal$28.8M volume
BUYER
Calare Properties
Calare Properties
BUYER
Robert Feurle
Wolfspeed
Robert Feurle
1 deal$28.8M volume
SELLER
Wolfspeed
Wolfspeed
SELLER

Details

SOLD
IMAGE: 07/23/2025 ADDRESS: 3028 East Cornwallis Road MARKET: Durham, NC ASSET TYPE: Industrial BUYER: William L. Manley - Calare Properties SELLER: Robert Feurle - Wolfspeed SALE PRICE: $28,750,000 SF: 183,700 ~ PPSF: $157 NOTE: Calare Properties acquired a 183,700-square-foot tech manufacturing facility in Research Triangle Park from Wolfspeed for $28.75 million, marking its expansion into North Carolina.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,533,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$102,142.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$136,289.67
Annual Debt Service$1,635,476.01