Dilweg Sells Portfolio in the Triangle Following Substantial Capital Improvements

The Collection of Nine Single-Story Light-Industrial / Flex Buildings is Located in Cary and Raleigh, N.C.

Raleigh, N.C. (December 7, 2021) — Dilweg, a leading Southeast real estate investment firm, today announced the sale of a nine building portfolio comprised of MacGregor Yards and 52North in Cary and Raleigh, N.C., respectively. The collection includes nine single-story light industrial / flex buildings that were sold to Adler Real Estate Partners. The properties span a total of 404,495 square feet, leased to 23 tenants spanning lab, research, life sciences, creative office, and flex tenants.

“The Dilweg team consistently recognizes opportunities to increase an asset’s worth, and we did just that with 52North and MacGregor yards,” said Kelsey Reside, Asset Enhancement Officer for Dilweg. “Through rebranding and capital improvements, we successfully repositioned these buildings that attracted several substantial tenants over the years, which brought us 82% occupancy. This is another great accomplishment for our firm and has generated significant value for our investors.”

Macgregor Yards, previously called MacGregor Park, features two single-story light industrial buildings totaling 90,392 square feet on 9.7 acres. Dilweg implemented a rebrand and numerous improvements, including: exterior paint, wood accents, refreshed tenant and park signage, landscaping, and an upgraded parking lot. The tenant landscape is predominantly made up of R&D and life sciences companies such as Jaguar Gene Therapy and AdhereRx. Macgregor Yards is located in the Research Triangle within a 20 minute drive of Raleigh-Durham International Airport. 

52North, previously known as One North Commerce Center, underwent a rebrand in addition to improvements similar to those of Macgregor Yards. The 32-acre campus is home to seven single-story light industrial buildings and tenants such as Raleigh Police Department, RTI International, and Tethis, Inc. 52North is centrally located about four miles from Midtown within close proximity to Interstates 440 and 540.

CBRE’s Patrick Gildea, Ben Kilgore, Matt Smith and Grayson Hawkins represented Dilweg in the sale. Foundry Commercial represented Dilweg in its leasing efforts.


About Dilweg 

Dilweg is the expert, strategic commercial real estate investment firm that consistently generates risk-adjusted returns for investors by resourcefully uncovering unique opportunities and intently focusing on result-centric execution. With offices in Durham, Atlanta, Charlotte, and Tampa, Dilweg is a full-service real estate organization, whose mission is to deliver long-term value to its investors, tenants, and the community. Since its beginnings in 1999, the firm has acquired more than $1.34 billion in asset value and more than 11.1 million square feet throughout the Southeast. In recent years, the firm shed many of the non-strategic assets and concentrated the majority of acquisitions on Class-A office buildings, primarily in the Atlanta, Charlotte, Nashville, Tampa and Raleigh-Durham metros. In the process, the firm established itself as a high-quality investor and operator of opportunistic and value-added, middle-market ($15 million to $100 million) office assets.

About Adler

Adler Real Estate Partners (Adler Partners) is a vertically-integrated real estate investment firm based in Miami, FL.  Adler Partners is an entrepreneurial company that pursues a niche strategy of acquiring multi-tenant Light-Industrial and related business park properties in markets of high demographic growth.  Adler Partners creates value in its portfolio through a strong focus on operations and tenant relations.  Today, Adler Real Estate Partners manages a significant portfolio of investments in 12 major markets in the United States.