Dilweg Sells Regional Commerce Center in Durham
DURHAM, N.C. (Feb. 14, 2018) – Commercial real estate investment firm, The Dilweg Companies, announced today the sale of Regional Commerce Center, a 1.2 million-square foot warehouse complex in Durham.
Regional Commerce Center is located at 706 Ellis Road in Durham, directly adjacent to NC Highway 147. The 46-building warehouse complex totals more than 1.2 million square feet on nearly 65 acres. The property was built in 1929 and operated as a tobacco drying warehouse until 2005. Regional Commerce Center was 34 percent leased at the time of sale.
“RCC is perfectly positioned for development, and we are looking forward to seeing the next phase of life for the property,” said Anthony Dilweg, CEO of the Dilweg Companies. “This transaction marks the sale of our last large warehouse asset, allowing our team to focus on our principal strategy, enhancing office assets in the Southeast.”
Dilweg owns nearly 2 million square feet in Raleigh-Durham and more than 6 million square feet in the Southeast.
HFF’s investment advisory team representing the seller consisted of senior managing director Chris Norvell, managing director Justin Good and director Patrick Nally.
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 $1.34 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.