Raleigh Distribution Center Sold for $16 Million


Holliday Fenoglio Fowler, L.P. (HFF) announced today that its Carolinas investment sales team has closed the $16 million sale of North 540 Distribution Center, a 235,308-square-foot, Class A, fully-occupied distribution center in Raleigh, North Carolina.gresham lake

HFF senior managing director Chris Norvell, formerly of Cushman & Wakefield Thalhimer, represented the seller, a partnership between Meridian Development Group and Singerman Real Estate, LLC, in the sale of the facility to Chicago-based Hamilton Partners.

North 540 Distribution Center is located at 3401 Gresham Lake Road in the North Raleigh submarket. The facility is situated on 13.3 acres near the interchange of U.S. Highway 1/Capital Boulevard and Interstate 540, which provides direct access to Interstates 95, 40 and 85, all major distribution corridors in the Southeast. The facility features 30’ clear heights, 40’ by 40’ column spacing, 23 dock-high doors, 170’-180’ truck court depths and approximately 23,000 square feet of office space. Substantially renovated in 2014, North 540 Distribution Center is 100 percent leased to DHL, Express Foods, Ranpak Corp. and Tiger Direct.

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