APG Capital has closed on the sale of a 93,508 square foot industrial building at 3881 US Hwy 421 North in Wilmington. The single-tenant building has been home to Ferguson Enterprises since 2009, who recently signed a lease extension until 2033.
The sale also included 3901 US Hwy 421 North, a 4.99-acre lot with the potential for development of a 30,000 square foot building. Both parcels combined for over 14 acres, included a 2.25 acre lay yard.
An APG entity originally acquired the property in 2013 for $5.6M and has conducted over $2.7 million worth of building renovations. The property sold in April for $11.9 million to Robeson Street Properties LLC of Fayetteville, NC. Coastal Legacy Real Estate represented the buyer.
“The disposition was a strategic move specific to the APG Investment Portfolio, where proceeds will be used for new projects in the APG pipeline. We believe the property was sold to a great owner who will continue to be a great steward of the property,” APG’s VP of Acquisitions, Daniel Walser explained.
APG would like to thank David Divine and Daniel Walser, who provided seller representation. APG would also like to give special thanks to Don Hyneman for overseeing a 25,000 square foot expansion of the building in 2023.
To learn more about APG Capital, visit our Portfolio page and explore other available properties here.
Recent Posts
APG Capital Secures Long-term Tenant for High-Valued Asset
Westgate Auto Group, a leading owner-operator of ten new, used, and luxury car dealerships across North and South Carolina has added the Auction Direct USA brand to its portfolio. In an acquisition fa...
December 11, 2024
APG Advisors Announces Key Promotions
APG Advisors is thrilled to announce the promotion of both David Batten and David Stroud, to Senior Vice President.
David Batten serves the greater Triangle region, specializing in Land Services and I...
November 19, 2024
David Divine’s 20-Year Journey on the Sale of 650 Acres in Clayton
Congratulations to David Divine, SIOR, Director of Commercial Investment Sales, for representing the seller in the sale of 173 acres in Clayton. This is the first of two closings planned for a combine...
November 7, 2024
Congratulations to Sherry Wilborn, Newly Elected to the Person County Board of Commissioners
We’re thrilled to announce that APG’s Commercial Real Estate Advisor, Sherry Wilborn, serving Person County and surrounding areas, won her race last night for the Person County Board of Commissioners!...
November 6, 2024
APG Capital Completes Successful Sale of Ace Plaza in Cary, NC
APG Capital is pleased to announce the successful sale of Ace Plaza, a 54,800-square-foot multi-tenant retail property anchored by Ace Hardware, along Kildaire Farm Rd in Cary, NC. Originally built in...
October 31, 2024
APG’s Commitment to Tackling Both Economic and Social Issues
Jim Anthony of APG has long been at the forefront of addressing critical societal issues. In last year’s short-form documentary, produced by the ViewPoint Project with Dennis Quaid, Jim highlighted th...
September 13, 2024
SOLD! All 3 Outparcels at Broadstone Station
We are excited to announce the successful sale of all three outparcels at Broadstone Station, a prominent residential mixed-use development located at the busy intersection of US 1 and NC 55 in Apex, ...
September 12, 2024
The Power of Broker Connections
We’d like to give a shout out to APG’s own Colby Mitchell and Greyson Tavolacci on their tenant representation in the leasing of 8820 Westgate Park Drive in Northwest Raleigh, a 7,500+ square foot fle...
August 28, 2024
APG Congratulates Our Q2 2024 CoStar Power Broker Award Winners
Congratulations to APG’s David Divine, Director of Investments Sales, and Daniel Walser, Vice President, Acquisitions for being named CoStar Power Brokers for Q2 2024.
David and Daniel received this a...
August 9, 2024
Sold! Northeast Raleigh Office Property
Congratulations to David Divine, SIOR and Director of Investment Sales with APG Advisors, and Daniel Walser, Vice President at APG Capital and manager of the syndication division, for their seller rep...
August 2, 2024
Catching up with one of APG’s Veteran Land Brokers
Philip Matthews, Vice President of Land & Investment Sales
Any new projects you’d like to share news and updates about?
It was recently made public that Storyliving by Disney is partnering with DM...
July 9, 2024
Sold! Northwest Raleigh Retail Property
Congratulations to Lee Holder, Senior Vice President and David Divine, SIOR, Director of Investment Sales for their Seller Representation in the successful sale of 3501 W. Millbrook Road – a 6,448 squ...
June 13, 2024
Key Takeaway from 2024 I-85 Industrial Conference
Jim Anthony joined the Five Markets panel at last week’s conference.
“The I-85 Industrial Conference held in Charlotte last week was a great success, as expected. Kudos to the France Media team for a ...
May 31, 2024
APG Companies Launches Our Promise Care Homes
Brian Quenneville, John Zemet and Jim Anthony are pleased to announce a new portfolio venture business within APG Companies: “Our Promise Care Homes”. OPCH was founded to provide personalized individu...
May 31, 2024
APG Capital Celebrates Sale of Fully Leased Industrial Property in Wilmington
APG Capital has closed on the sale of a 93,508 square foot industrial building at 3881 US Hwy 421 North in Wilmington. The single-tenant building has been home to Ferguson Enterprises since 2009, who ...
April 22, 2024
Triangle Business Journal Highlights APG Capital’s Latest Venture in Selma, NC
APG Capital has acquired four parcels totaling 70 acres along I-95 in fast growing Johnston County, North Carolina. The property, which is situated at 190 Campground Road in Selma, was purchased last ...
April 16, 2024
David Stroud Receives TCAR Elite Broker Award for Industrial Leasing
Congratulations to APG’s David Stroud, Vice President of Industrial Leasing for being one of the winners of TCAR’s Elite Broker Award for 2023.
Among the list of key deals for the year, David provided...
April 10, 2024
APG Celebrates Broker Awards for 2023
Congratulations to APG’s top three brokers for 2023: David Stroud, Vice President – Industrial; David Batten, Vice President and Broker in Charge; and David Divine, Director of Commercial Investment S...
March 29, 2024
APG Advisors Celebrates Successful Sale of GSA Leased Building in Raleigh
Congratulations to David Divine and Rick Polley, who provided seller representation in the successful sale of a 28,321 square foot office building at 2625 Appliance Court in Raleigh, located just off ...
February 28, 2024
APG Capital Acquires Overlook Office Building in Durham
APG Capital is pleased to announce its latest venture: the acquisition of “Overlook”, a 97,074 square-foot, four-story office building, situated in Creekstone Park in Durham. Primary tenant Duke Unive...
February 22, 2024
APG Supported Metropolitan Village Welcomes First Tenants
We gratefully celebrate APG Capital’s Jim Anthony and John Zemet, the development partners to Charlotte based Liberty Atlantic, on the inspirational story of Metropolitan Village, a signature workforc...
December 14, 2023
APG Capital Celebrates the Successful Disposition of South Carolina Industrial Site
APG Capital is pleased to announce the successful sale of 100 Schmid Plaza; a 110,000 square-foot, Class B industrial facility situated along the I-85 corridor in Anderson, South Carolina.
Deal Return...
October 31, 2023
Jim Anthony Discusses the Housing Affordability Crisis
APG’s CEO and Founder Jim Anthony discusses the escalating housing affordability crisis in a segment of
the Viewpoint Project with Dennis Quaid – short-form documentaries produced for Public
Televisio...
October 12, 2023
APG Advisors Celebrates Success in Landlord Representation and Leasing
APG Advisors is pleased to share news of several office lease deals executed in recent weeks.
Congratulations to Martie Serianni who provided landlord representation in three lease deals signed at One...
August 9, 2023
Takeaways from the I-85 Industrial Conference
The 2023 conference was a success – and very well attended. APG’s Jim Anthony participated on the Market Insight Panel and here are some of the key takeaways:
Industrial remains a leading asset class...
May 24, 2023
APG Capital Completes Sale of Property for Affordable Housing Development
APG Capital recently completed the sale of 16 acres on Carr Road in Durham to the Taft-Mills
Group. Geoff Loftin and the late Jim Flink brokered the deal for APG. The property sold for $2.7 million,
$...
April 25, 2023
APG Capital Takes Quantum Stride with Triangle Land Acquisition
APG Capital led an investor group to acquire 307 acres in East Raleigh along Buffaloe Road and
Robertson Grove Road known as River Towne. The partially developed tract is zoned and planned for a devel...
March 16, 2023
Dealmakers of the Month
APG is pleased to announce Philip Matthews and David Batten as our Dealmakers of the Month. Continue reading for a recap of a job well done.
1164 North Main Street, Wake Forest NC
Sale of 18 Acres of ...
February 9, 2023
Where Thoughtful Commercial Real Estate Experts Transform Communities...
“Commercial real estate has the power to transform communities. We love to solve problems, create value, and drive success for our community and clients,” says Jim Anthony, founder and CEO of Raleigh-...
January 23, 2023
APG Capital Secures Long-term Tenant for High-Valu...
Westgate Auto Group, a leading owner-operator of ten new, used, and luxury car dealerships across North and South Carolina has added the Auction ...
APG Advisors Announces Key Promotions
APG Advisors is thrilled to announce the promotion of both David Batten and David Stroud, to Senior Vice President.
David Batten serves the great...
David Divine’s 20-Year Journey on the Sale of 650 ...
Congratulations to David Divine, SIOR, Director of Commercial Investment Sales, for representing the seller in the sale of 173 acres in Clayton. ...
Congratulations to Sherry Wilborn, Newly Elected t...
We’re thrilled to announce that APG’s Commercial Real Estate Advisor, Sherry Wilborn, serving Person County and surrounding areas, won her race l...
APG Capital Completes Successful Sale of Ace Plaza...
APG Capital is pleased to announce the successful sale of Ace Plaza, a 54,800-square-foot multi-tenant retail property anchored by Ace Hardware, ...
APG’s Commitment to Tackling Both Economic and Soc...
Jim Anthony of APG has long been at the forefront of addressing critical societal issues. In last year’s short-form documentary, produced by the ...