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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Edgewater Ventures paid $25 million for 601 Keystone Park Drive in Morrisville, according to Durham County deed records. The acquisition was a joint venture with Optimum Asset Management, which has offices in Boston and Europe.
The first phase of Wilmington Trade Center, a master planned industrial park on U.S. 421, recently wrapped up, while work on the next phase is now underway.
A Longs-area industrial park that currently serves Amazon and Pepsi distributors plans to expand with a 60-acre acquisition, offering more space for industries to step into Horry County.
