Kamal Bhatia And Samuel J. Morreale Acquire Industrial Property In Mebane For $30 Million

The asset involved in the transaction is a 369,420-square-foot industrial property located at 1017 Corporate Park Drive in Mebane, North Carolina. The property was acquired for a sale price of $30 million, equating to a price per square foot of $81.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $30,000,000
• Address: 1017 Corporate Park Drive
• Market: Mebane, NC
• Square Footage: 369,420
• Price per Square Foot: $81
• Buyer: Kamal Bhatia - Principal Asset Management & Samuel J. Morreale - Vision Real Estate Partners
• Seller: BCDC Portfolio Owner LLC
• Buyer's Representative: Cushman & Wakefield
• Seller's Representative: Newmark

A joint venture was formed between Vision Real Estate Partners and Principal Asset Management for this acquisition. Cushman & Wakefield will take responsibility for leasing the vacant property, while Newmark acted as the representative for the seller, BCDC Portfolio Owner LLC, in this transaction.