SL Industrial Partners Makes $30M North Carolina Buy

SL Industrial Partners, a member of The Silverman Group, had purchased a 293,740-square-foot industrial asset in Greensboro, N.C. The property traded for $29.5 million from Tectonic, according to Guilford County public records.

SL Industrial Partners now expanded its industrial portfolio in North Carolina to more than 6 million square feet.

Cushman & Wakefield negotiated on behalf of the seller and is the leasing agent in charge of the property.

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Developed by Tectonic with $16.5 million in construction funds from United Bank, the asset came online in 2023, CommercialEdge shows. The property is at 3618 McConnell Road and provides easy access to interstates 40, 85 and 840. Piedmont Triad International Airport is 21 miles away, while Winston-Salem, N.C., is within 34 miles of the property.

Sitting on a nearly 23-acre lot, the single-story distribution facility features 36-foot clear heights, ample column spacing, 60-foot speed bays, 30 dock doors, ESFR sprinkler systems and 30 knockouts. Additional features include trailer parking and 202 vehicle parking spots.

Cushman & Wakefield’s Tom Townes and Ryan Conboy worked on behalf of the seller. The property is available for lease, with the same team retained by SL Industrial Partners in charge of leasing efforts.

Big purchases in the area

The news comes after SL Industrial Partners recently sold an industrial property in the state, within the Charlotte market. In late November, the company sold a 402,390-square-foot building in Concord, N.C., to Stonelake Capital Partners, in a $51 million deal.

One of last year’s significant industrial deals closed near Charlotte and Greensboro. Equus Capital purchased a nine-building industrial portfolio for $124 million from Investcorp. Totaling 1.4 million square feet, this portfolio includes single-tenant distribution properties.