An institutional account managed by LaSalle Investment Management has acquired a fully leased, seven-building logistics portfolio totaling 1.02 million square feet in two of the hottest growth markets in the country, Raleigh-Durham, N.C., and Charlotte, N.C.
The financial terms were not disclosed; JLL Capital Markets marketed the assets on behalf of an undisclosed institutional seller.
Charlotte continues its meteoric rise, boasting 50.8 percent population growth since 2000 with 4 percent projected growth within the next three years, while the Raleigh-Durham area population increased 69 percent from 2000 to 2020 and was recently projected to be the second fastest-growing large city in the United States between 2015 and 2030, according to the United Nations Population Division.
