Patriot Park Phase I – Raleigh-Durham, North Carolina – Two-Building, 322,800 SF Mid-Scale Industrial Investment – Developed by WRP II

OPPORTUNITY

Two-building, speculative Class A industrial development totaling 322,800 SF in Raleigh-Durham, NC. The project was a joint-venture with Indianapolis-based developer Strategic Capital Partners. In September 2019, Patriot Park Phase I was sold to Blackstone’s Link Industrial Properties, generating a 38.6% IRR and an Equity Multiple of 1.8 to 1.

Property

Two Mid-Scale Industrial

Distribution Buildings

Size

322,800 SF

Built

2017-2018

Ownership

WRP II

Sold

September 2019

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