New Master-Planned Industrial Park Sale Signals Success
Strategic Capital Partners and Westminster Capital Announce the Sale of Patriot Park Phase II
October 18, 2021 – Indianapolis – A joint venture between Indianapolis-based Strategic Capital Partners, LLC (“SCP”) and Westminster Capital, LLC (“Westminster”) is pleased to announce the sale of Patriot Park Buildings 3 and 4 in Durham, North Carolina near Research Triangle Park. Developed as Phase II of the 80+ acre master-planned project, the buildings are fully leased to KBI BioPharma and Taysha Gene Therapies.
The sale to LaSalle Investment Management demonstrates Patriot Park’s market strength. The best-in-class buildings possess institutional quality features and Patriot Park’s location at Miami Boulevard and Patriot Drive is ideal for warehouse, distribution and R&D users.
SCP’s Richard Horn believes there is ongoing demand for Class A industrial space in this submarket. “Our development of Buildings 3 and 4 at Patriot Park demonstrates this park is attractive to life sciences companies as well as industrial tenants.”
The remaining Patriot Park site will accommodate development up to 200,000 square feet. Located six miles or 15 minutes from Raleigh International Airport, the park offers easy access to I-40 only two miles away and Highway 147/Durham Freeway which facilitates distribution to every major U.S. market.
“We embarked on Patriot Park Phase II with high expectations and due to the great success of Phase I, and we couldn’t be more pleased with the final results achieved with our longtime partner SCP.”
The JLL Capital Markets team represented the seller. Managing Director Patrick Nally, Senior Managing Director Pete Pittroff and Directors Dave Andrews and Daniel Flynn represented the buyer.