GREENSBORO, NC-CIP Real Estate and Blue Vista Capital Management acquired the Airport Distribution Center from Highwoods Properties for $12.3 million. Formerly known as the Chimney Rock Portfolio, the six-building complex includes about 836,500 square feet of warehouse and logistics space.

“We are focused on the Airport submarket—that’s the newest and most technical submarket,” Jared Rogers, regional director at Irvine, Calif.-based CIP Real Estate, tells “We are less enthralled with the other submarkets. The further away we get from the airport, the less desirable the property.”

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