The asset involved in this transaction is an industrial property located at 3200 Gateway Centre Boulevard, Raleigh, NC. The sale was finalized for a total of $9,200,000. The property spans 70,479 square feet, translating to a price per square foot of $130.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $9,200,000
• Address: 3200 Gateway Centre Boulevard
• Market: Raleigh, NC
• Square Footage: 70,479
• Price per Square Foot: $130
• Buyer: Justin Adelipour & Joshua Zamir - Capstone Equities; Alex Morrison & Nathaniel Neman - Portal Warehousing; Equity Multiple Investment Partners
• Seller: CapRidge Partners

The transaction involved multiple parties, including the buyers, Justin Adelipour, Joshua Zamir, Alex Morrison, Nathaniel Neman, and Equity Multiple Investment Partners. The property will undergo an as-of-right conversion from office to warehouse, primarily involving interior demolition and the addition of loading docks to facilitate Portal Warehousing’s micro-warehousing operations. Portal Warehousing is focused on acquiring vacant warehouses within infill pockets across major metropolitan statistical areas in the United States.