A limited liability company recently paid $60.3 million for a five-building industrial complex in Clayton, N.C.
Crown West Realty LLC purchased The Clayton Industrial Park from JER Partners. The property comprises 1.2 million square feet.
At the time of purchase, four of the five buildings were vacant and the property maintained a 29 percent occupancy rate.
JER originally purchased the asset in January 2006 during the foreclosure process, according to Alex Gilbert, a principal at JER. The complex was 29 percent occupied at that time.
You have {{data.cm.viewsLeft}} articles left this month.
This content is available to Inman Select subscribers.
Please select an option below.
Please register to access this content.
To continue viewing the content you love, please sign in or create a new account
You have used all of your free pageviews.
Please subscribe to access more content.
Access denied!