May 12th, 2021
NAI Tri Properties announced today the sale of 11.77 acres for $1,325,738 of industrial land in Greenfield Business Park, located on Laurensfield Court in Garner, North Carolina to developer Wigeon Capital.
The well-situated location backs up to I-40, near the US Business 70 and I-40 interchange in Garner.
“Greenfield Business Park continues to be a desirable location for flex and warehouse users. The completion of interstate 540 only 1 mile away, makes this location even better long term. We are honored and excited to help Wigeon Capital,” says Jimmy Barnes of NAI Tri Properties.
Plans for Laurensfield Court consist of a 96,000 square foot, concrete tilt-up, warehouse distribution facility with 32’ clear ceiling height and 13 dock doors. Groundbreaking is expected within 60 days and completion is slated for 1st quarter of 2022.
This purchase is the latest project for Wigeon Capital, a Raleigh-based real estate development company co-founded by Whit Brown and Al Goodrich. Laurensfield Court will be the fourth industrial building under construction by Wigeon in the last 24 months. In March, it broke ground on a 58,000 square foot industrial building at 3300 Waterfield Drive, Garner. Wigeon also has plans to develop Greenfield 27, a 27.25-acre site with three buildings totaling 246,000 square feet of warehouse and flex space. Construction is scheduled for this Fall.
Jimmy Barnes of NAI Tri Properties represented Wigeon Capital and Ed Brown of NAI Tri Properties represented the owner in the transaction. Wigeon Capital has selected NAI Tri Properties for leasing and management of the property, HagerSmith Design as the engineer, and AB Goodrich Contracting as the general contractor.
About Wigeon Capital
Since the founding of Wigeon Capital in 2016, it has focused on each project personally to ensure its long-term success. The team primarily focuses on building meaningful relationships across the real estate development industry. These relationships have provided the ability to access unique market data and opportunities. Wigeon Capital currently has approximately 500,000 SF of Flex and Shallow Bay Industrial under development in Wake County, NC.