Dilweg Sells South Elm Business Center to Taylor Development Group
DURHAM, N.C. (Sept. 25, 2017) – Commercial real estate investment firm, The Dilweg Companies, announced today the sale of South Elm Business Center in Greensboro to Taylor Development Group, a private real estate firm based in Winston-Salem, NC.
South Elm is located at the corner of South Elm Eugene Street and Creek Ridge Road in Greensboro. The 13-building industrial/flex property totals more than 330,000 square feet on nearly 29 acres. South Elm was built between 1981 and 1988 and was 88 percent leased at the time of sale.
“The sale of one of our remaining industrial/flex properties allow us to focus on what we are primarily built for, enhancing office assets in the Southeast,” said Anthony Dilweg, CEO of the Dilweg Companies. “We will continue to pursue our strategy to divest out of non-core properties, as we robustly expand our Southeast office portfolio.”
Dilweg owns 3 million square feet in the Raleigh-Durham and Charlotte metros and nearly 6 million square feet in the Southeast.
“We are excited to expand our Triad footprint with the acquisition of South Elm Business Center,” said Suzanne Ramm, President of Taylor Development Group. “We believe in the strengthening fundamentals of Greensboro’s industrial/flex market, and we look forward to owning these assets.”
Chris Ramm of Ramm Commercial Properties represented the Buyer on the sale. The Seller was represented by Jonathan Smith of CBRE|Triad.
About The Dilweg Companies
The Dilweg Companies is a full-service commercial real estate investment firm based in Durham, North Carolina. Since its launch in 1999, Dilweg has gained broad experience in the acquisition, development and operation of office, retail, warehouse/flex, multifamily and self-storage properties. Dilweg’s investors have sponsored over $1.2 billion in assets and more than 10.7 million square feet throughout North Carolina, South Carolina, Virginia and Georgia. For more information, please call (919) 402-9100 or go to www.dilweg.com.
About Taylor Development Group
Taylor Development Group, formerly Taylor Oil Company, which owned and operated 68 convenient stores throughout NC and VA, is a privately held Winston-Salem, NC based real estate investment company focusing on office, warehouse/flex and industrial properties, currently owns over 480,000 square feet throughout North Carolina and looking to expand its holdings. For more information, please call Chris Ramm, 336-414-0606.