Print
Real Estate - Commercial

Wilmington Industrial Buildings Sell For $9M To New York-based Firm

By Staff Reports, posted Oct 26, 2021
A New York-based firm bought industrial properties at 3700 and 3720 U.S. 421 North in Wilmington for $9 million. (Photo courtesy of Treeline)
Continuing a trend of increased industrial activity in the region, a New York-based real estate developer, owner and investor recently bought a two-building industrial portfolio in Wilmington.

According to a news release, Treeline acquired 3700 and 3720 U.S. 421 North from Burgess Corp., a construction and project management company, in an off-market transaction.

The properties include a 66,274-square-foot building that was recently renovated into class A industrial space at 3700 U.S. 421 North and a newly constructed 40,000-square-foot industrial property at 3720 U.S. 421 North, the release stated.

The buildings are fully leased to market rate tenants.

“Treeline has been looking to expand our investments to the Southeast and we are excited to close on this first acquisition in the region,” said Daniel Schor, chief business development officer at Treeline, in the release. “The explosive growth in the region has been particularly attractive to Treeline’s investors.”

Treeline currently has several more deals underway in North Carolina and is pursuing additional industrial and office investments in Raleigh, Charlotte and Wilmington, in addition to assets in South Carolina, the release stated.

“While we have been known predominantly for our investments in the Northeast, Treeline is extremely bullish on the Southeast markets due to the region’s explosive growth, access to ports critical to U.S. logistical infrastructure, the presence of a young, skilled labor force and ongoing population migration to the region,” Schor said in the release. “These factors have created opportunities that match well with our investment criteria.”

The Wilmington properties acquired by Treeline hold more than 106,000 square feet of modern warehouse, distribution and office space, including ample truck and car parking, six high door loading docks and three drive-in bays, the release stated.

"The property at 3700 US Highway 421 North is occupied by South-Tek Systems Inc., an industry leader in nitrogen generation technology, and the property at 3720 US Highway 421 North is occupied equally by Mid Atlantic Roofing Systems and Aprinnova Inc., a leader in sustainable manufacturing and specialty chemicals used in the creation of non-toxic cosmetics," according to the release.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Chris coudriet

A Public Service Profile on Creating Beauty in Our Community

Chris Coudriet - New Hanover County Government
Burrus rob headshot 300x300

Spreading Wings for Flight: 2nd Annual Trade Show Highlights the Ingenuity of UNCW Business Students

Robert Burrus - Cameron School of Business - UNC-Wilmington
2022052 75 142344351

Bridging Futures: The Case for Toll Funding in Wilmington’s Cape Fear Memorial Bridge Revamp

Natalie English - Wilmington Chamber of Commerce

Trending News

Conservation Group Signs $8M Deal To Buy The Point On Topsail Island

Audrey Elsberry - Mar 26, 2024

Rezoning Could Bring 123 Townhomes To Growing Leland Corridor

Emma Dill - Mar 25, 2024

N.C. Ports Officials React To Baltimore Bridge Collapse

Audrey Elsberry - Mar 26, 2024

Engineering Firm Hires Four Employees

Staff Reports - Mar 26, 2024

National Organization Bestows Top Award On Cape Fear Professional Women In Building

Staff Reports - Mar 26, 2024

In The Current Issue

Topsail-area Realtors Share Updates

Pender County Realtors recently shared updates about the coastal market at an event hosted by the Wilmington-Cape Fear Home Builders Associa...


INFO JUNKIE: Jack Fleming

Jack Fleming, owner of Socialry Marketing & Scourz and emcee for 1 Million Cups Wilmington, shares his media and tech picks....


MADE: Polyhose Inc.

Polyhose manufactures and fabricates hose protection, paint hose assemblies and rubber hydraulic assemblies from its Pender County facility....

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2023 Power Breakfast: Major Developments