San Francisco-based Stockbridge Real Estate and Raleigh-based Edgewater Ventures purchase 10900 World Trade
July 7, 2021
// Triangle Business Journal
RALEIGH – A California investor snagged a Raleigh industrial complex last week, joining a frenzy of demand for industrial space in recent months.
On Wednesday, San Francisco-based Stockbridge Real Estate and Raleigh-based Edgewater Ventures paid $13.6 million for an industrial complex at 10900 World Trade Center Drive in Morrisville.
The property is situated on 13.7 acres amid a collection of industrial properties just north of the I-540 interchange with Aviation Parkway.
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Tim Skender, principal at Edgewater, said the acquisition was a good opportunity in a submarket that is thriving. "We’re big believers in lifestyle office or neighborhood office," he said. "1800 Central is well-located, in a dynamic, growing (submarket) where the neighborhood is the amenity for the people who office there. There’s a lot of momentum in Plaza, broadly speaking."
Following two recent leases, another building in the Wilmington Trade Center, a growing industrial park along U.S. 421, is at full occupancy.
Edgewater Ventures is pleased to announce the addition of Joey Surles, to the Edgewater Industrial team as their Senior Property Accountant.
