Pennybacker Capital Buys 251,314 SF Infill Industrial Facility in Raleigh

by John Nelson

RALEIGH, N.C. — Pennybacker Capital has purchased a 251,314-square-foot infill industrial facility located at 3200 Bush St. in Raleigh. Grayson Hawkins, Chandler Hawkins, Patrick Gildea and Matt Smith of CBRE represented Pennybacker Capital in the transaction. New Market Strategies sold the asset, which was fully leased at the time of sale to an e-commerce user, building material suppliers and Wake Tech, a regional community college, for an undisclosed price. Situated on a 20-acre site, the facility is located north of I-440 near Raleigh’s North Hills district.

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