Last-mile industrial facility in infill Raleigh trades
JLL Capital Markets completed the sale of 520,431-square-foot property to Charlotte-based Beacon Partners
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.
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.”
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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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About SharpVue Capital
SharpVue Capital operates private real estate and private credit and equity funds on behalf of institutional investors and qualified individuals. SharpVue’s “bottom-up” real estate strategy spans all real estate product types in the growth markets of the Southeast. The firm has the ability to deploy capital as equity, debt, mezzanine or a hybrid. The firm has the size and flexibility to pursue deals it believes are attractive and that are not large enough for the major real estate funds, acting quickly when opportunities are uncovered or market conditions change. SharpVue’s real estate team is comprised of seasoned professionals and is complemented by the broader SharpVue organization and private credit and equity investment strategy. The real estate team is led by Lee Roberts, SharpVue’s Managing Partner.
About Beacon Partners
Beacon Partners is a Charlotte-based commercial real estate firm specializing in the development, leasing and management of office and industrial properties. Beacon leases, owns or manages more than 10 million square feet of office and industrial space throughout the Carolinas. For more information on Beacon Partners and its properties, please visit beacondevelopment.com or call (704) 597-7757.