Last-mile industrial facility in infill Raleigh trades

CHARLOTTE, July 8, 2021 – JLL Capital Markets announced today that it has closed the sale of 2728 Capital Blvd., a 520,431-square-foot, last-mile industrial facility located in an infill industrial market in Raleigh, North Carolina.  

JLL worked on behalf of the seller, SharpVue Capital. Charlotte-based Beacon Partners purchased the facility.

2728 Capital Blvd. is situated on 32 acres within an Opportunity Zone in the extremely high-barriers-to-entry Raleigh-Durham Industrial market, one of the fastest-growing markets in the nation. The property is less than five minutes from Downtown Raleigh and within minutes from North Hills, the market’s major employment, residential and retail submarkets.

“We bought it off-market at an attractive price, we added value through leasing and by entering the site into the N.C. Brownfields program and we sold into a supportive market in which there is high demand for infill industrial, especially in a booming metro like Raleigh,” said Lee Roberts, SharpVue Capital Managing Partner. “JLL ran a successful marketing process, and we are pleased that a firm with Beacon’s reputation will shepherd the property into its next phase as the Capital Boulevard corridor continues to evolve.”

“Lee Roberts and the team at SharpVue did an excellent job addressing the legacy environmental issues at the property, and we’re excited to implement a comprehensive capital plan to enhance the warehouse truck courts and loading dock access while also modernizing the existing building systems,” added Walker Gorham, Beacon Partners Director of Investments. “We believe 2728 Capital Blvd.’s infill location will provide our tenant base with another strong option to service the continued growth in Midtown Raleigh and the broader Triangle market.”

The JLL Capital Markets team representing the seller was led by Managing Director Patrick Nally, Senior Managing Director Pete Pittroff, Director Dave Andrews and Analyst Michael Scarnato.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge deliver the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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