Net Lease North Carolina Industrial Property Sold

The Boulder Group, a net leased investment brokerage firm, completed the sale of the single tenant Divert, Inc. industrial property located at 3760 Kimwell Drive in Winston-Salem, North Carolina for $4,600,000.

Divert, Inc. is located within Stratford Industrial Park. The 57,500 square-foot benefits from its proximity to Stratford Road (34,500 vehicles per day). The property is positioned within 2 miles of Interstate 40 (128,000 vehicles per day), providing convenient access to Greensboro and The Research Triangle.

Neighboring industrial tenants include South Atlantic Packaging, Labcorp, ExtraSpace Storage, Hanes Brands Inc, HP Fabrics, Collins Aerospace, and JDL Fast Track. The population is 132,230 within a 5-mile radius, with an average household income of $98,660.

Divert, Inc. has over 4 years of lease term remaining with 3.75% annual rental escalations. There is one renewal option at Fair Market Value.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a real estate investment partnership based in North Carolina and the buyer is a real estate investor based in North Carolina.

Divert, Inc. is a food waste management company that creates advanced technologies and sustainable infrastructure to eliminate wasted food. The company works with 5 Fortune 100 companies and nearly 5,400 retail stores across the United States.

“Enticing property attributes include below market rent, a new roof, 6 dock doors, a 4-acre parcel, custom tenant improvements, and strong demographics” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group, added, “Single tenant industrial assets in desirable states like North Carolina remain attractive investments.”

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