Lightstone Group Acquires 150907 Square Foot Industrial Building In Apex North Carolina For $163M

Lightstone Group acquired a 150,907-square-foot industrial building located at 850 Lufkin Road in Apex, NC, for $16.3 million. The property, priced at approximately $108.01 per square foot, spans 16 acres and was originally constructed in 1972. It underwent renovations in 2016, enhancing its facilities that include clear heights ranging from 16 to 20 feet, three drive-in doors, and ten dock-high doors.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $16,300,000
• Buyer: Lightstone Group
• Seller: LM Real Estate Partners
• Square Footage: 150,907
• Price per Square Foot: $108.01
• Address: 850 Lufkin Road, Apex, NC
• Market: Apex, NC
• Land Area: 16 acres
• Original Construction Year: 1972
• Renovation Year: 2016
• Clear Heights: 16 to 20 feet
• Drive-in Doors: 3
• Dock-high Doors: 10

This transaction involved Lightstone Group as the buyer and LM Real Estate Partners as the seller. The deal highlights the active commercial real estate market in Apex, NC, reflecting strategic investment decisions by both parties.