August 10th, 2021
NAI Tri Properties announced today the sale of yet another flex building newly developed by Wigeon Capital. 105 Sigma Drive, a 26,702 SF flex building on 2.76 acres in Garner, North Carolina was purchased by Full House Holdings, LLC for $4,272,320. This is the second turnkey project in Wigeon Capital’s ongoing portfolio to sell during the pandemic immediately after construction was completed.
The property sits just south of the US 70 and I-40 interchange, in what is now a hotbed of industrial development in Garner.
In the first quarter of 2021 alone the vacancy rates for warehouse and flex fell to record lows at 3.22% and 8.55%, respectively. Simultaneously, the market saw the highest positive absorption rate in years at 831,154 SF for 1Q2021.
Wigeon Capital has four more industrial developments in the Triangle in progress totaling over 450,000 SF. Their portfolio includes newly acquired Greenfield 27 project, a 27.25-acre site with three buildings totaling 246,000 SF of warehouse and flex space. Construction will begin this fall.
Jimmy Barnes of NAI Tri Properties represented Wigeon Capital.
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 450,000 SF of Flex and Shallow Bay Industrial under development in Wake County, NC.