Blue Ridge Industrial (BRI), a Dallas-based real estate private equity firm, recently completed the acquisition of a 28-property industrial portfolio in North Carolina’s Triad region. The properties — located in Kernersville near Winston-Salem — cover a total area of 1.4 million square feet and were purchased for $105 million. At the time of the sale, they were 96% leased to a group of 66 tenants.
The assets were sold by an affiliate of Dogwood Industrial Properties. JLL Capital Markets arranged the acquisition financing for BRI, securing a five-year, floating rate loan through an entity managed by Argentic Investment Management. The Debt Advisory team was led by Senior Managing Director, Jim Curtin, and Director Jarrod McCabe.
The portfolio consists of buildings with an average clear height of 23 feet and a total of 306 dock-high doors. It also offers a mix of front, rear, side and cross-dock load configurations. Meanwhile, the buildings vary in size from 216,000 to 910,000 square feet. The largest property within the portfolio is a 30.15-acre plot located at 1203 South Park Drive that features a building area of 277,250 square feet.
Notably, this prime location in the South Park Business Center in Kernersville provides convenient access to interstates 40 and 85. Kernersville is also situated 10 miles east of Winston-Salem and 17 miles west of Greensboro. In particular, Winston-Salem (located 25 miles west of Greensboro and approximately 70 miles northeast of Charlotte) offers excellent connectivity to major metropolitan areas.
Since its establishment in 2018, Blue Ridge Industrial has been actively acquiring properties and has already accumulated a total of 75 buildings across six markets and totaling 3.4 million square feet. In addition to the newly acquired properties in North Carolina, the company — which was founded by Michael Trapani and Nate Leifeld — also owns five properties in Greensboro.
Dogwood Industrial Properties, established by global investment firm TPG in 2019, has also made significant investments in high-growth U.S. metropolitan areas. To date, Dogwood Industrial Properties has acquired more than 12 million square feet of infill, multi-logistics space across more than 130 buildings.
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