
Denholtz Properties Acquires Five Building, 218,570-Square-Foot North Carolina Industrial Park
20 October 2021
Denholtz Properties Acquires Interstate Commerce Park, Expanding into North Carolina’s Growing Market
Denholtz Properties has acquired Interstate Commerce Park, a five-building, 218,570-square-foot industrial complex in Greensboro, N.C., for $12.1 million from CIP Real Estate. This acquisition marks Denholtz Properties’ first venture in North Carolina and represents a key milestone in the company’s strategic expansion throughout the Southeast.
Strategically positioned in the Piedmont Triad region—encompassing Greensboro, Winston-Salem, and High Point—the park offers proximity to major interstates, including I-40, I-73, I-74, and I-85, making it a logistical midpoint on the East Coast. The Triad region supports more than half of the U.S. population within 650 miles and offers a competitive edge with a skilled labor pool and the region’s lowest operational costs.
Fully leased to a diverse roster of tenants, including Triangle Warehouse & Distribution, Tirehub, Northern Composites, and GoBrands, Interstate Commerce Park has maintained an average 94 percent occupancy rate over the past 15 years. Denholtz Properties plans to implement a capital improvement program and a proactive leasing strategy to optimize tenant experience and enhance value for investors.
“The acquisition of Interstate Commerce Park is a significant step forward in our Southeast expansion strategy,” said Stephen Cassidy, President of Denholtz Properties. “With a deep background in multitenant industrial investments, we see substantial value-creation potential in this asset, allowing us to drive strong, risk-adjusted returns for our global investors.”
JP Josephson, Director of Acquisitions, added, “The strong market fundamentals and strategic connectivity of the North Carolina market align perfectly with our growth objectives. We are excited about the prospects of this region and look forward to expanding our North Carolina portfolio.”
Cushman & Wakefield represented the seller, CIP Real Estate, with Robert Cochran, Bill Harrison, Nolan Ashton, and John Schultz leading the transaction.