Town Lane has purchased a premier 2.7 million-square-foot portfolio of highly infill, shallow-bay industrial real estate encompassing 55 buildings across six industrial parks in Raleigh-Durham.
The acquisition also includes nearly 40 acres of land across three of the parks available for future industrial development.
The financial terms were not discussed. Town Lane bought the portfolio from Corebridge Real Estate Investors and Equus Capital Partners.
The portfolio will be managed and leased by the dedicated team at BPG Management, an affiliate of Equus, a locally based group that has operated the parks for the last 20 years. Equus will retain a minority interest in the portfolio going forward.
The portfolio serves a diverse mix of regional and local economy tenants, given the infill nature of the locations and varying suite sizes. The assets are concentrated in last-mile, supply-constrained areas and have demonstrated resilient performance across economi
