Updated Jul 2, 2025
Town Lane Acquires 55-Property Industrial Portfolio In Raleigh-Durham For $261 Million
3208 Spottswood Street, 1800 Garner Station Boulevard & 2320 Presidential Drive
$261,000,000
$32/SF
Building Size
2,700,000 SF
Asset Type
Industrial
Closing
Jul 1, 2025
About this deal
AI
The property involved in the transaction is a shallow bay industrial portfolio located in Raleigh-Durham, NC. The asset comprises a total of 2.7 million square feet spread across 55 properties, with the transaction amount being $261 million. The price per square foot stands at $97.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $261,000,000
- Buyer: Town Lane
- Seller: Corebridge Financial & Equus Capital Partners
- Square Footage: 2,700,000
- Price per Square Foot: $97
- Date of Sale: 07/01/2025
- Market: Raleigh, NC
Town Lane acquired a majority stake in the industrial portfolio from a joint venture between Corebridge Financial and Equus Capital Partners. This acquisition reflects the growing interest in industrial properties within the Raleigh-Durham area.
Players
Raleigh Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93