Thank you for sharing!

Your article was successfully shared with the contacts you provided.

RURAL HALL, NC-Boston-based Single Tenant Acquisition Group Capital Partners has acquired a 250,000-sf industrial building here from Highwood LP for an estimated $8 million. The property is fully leased to Sonoco Products Co., a global supplier of industrial and consumer packaging based in Hartsville, SC. The tenant is expected to remain at the facility, but terms of the lease were not disclosed.

“It’s a single-tenant industrial property leased to a strong credit tenant in a solid industrial market that we were able to pick up at a good return,” Mike Chase, managing director with STAG, tells GlobeSt.com. “It’s straight down the middle of the types of deals STAG acquires.”

The property was built in 1993 and is located on a 17.4-acre site at 300 Forum Parkway. Highwood originally developed the building, says John Schultz, a partner with Triad Commercial Properties, which represented the seller in the transaction.

“The company is divesting of most of their industrial property in this market and focusing on office,” he says. “It was part of Highwood’s overall strategy.” The price paid for the property is at market value, says Schultz, but he could not disclose any more details about the transaction.

“There’s not a lot of deals being closed in today’s market conditions, but we were able to perform under the terms we had gone under contract for,” says Chase, adding that the company has existing lenders it uses to finance all of its deals.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.