TRANSWESTERN BROKERS SALE OF FORD DISTRIBUTION CENTER FOR $10.3M

MEBANE, N.C. — Exeter Property Group has acquired the Ford Motor Co. High-Velocity Center (HVC), a Class A distribution facility located at 1099 Corporate Park Drive in Mebane, for approximately $10.3 million. The purchase price for the 252,000-square-foot distribution center equates to $40.83 per square foot. The property is 100 percent leased to Ford Motor Co., which extended its lease in June for another five years. Built for Ford in 2003, the Ford HVC is part of the North Carolina Industrial Center, a 600-acre mixed-use development that includes office, manufacturing and distribution space. Kevin Markwordt, Julian Brown and Walter Byrd of Transwestern’s Southeast investment services group represented the seller, LNR, in the transaction.