At a glance
- Connect CRE, citing the Triad Business Journal, reported the price and named the seller.
- At $58.8 million for 338,000 square feet, the price works out to roughly $174 a square foot.
- VinFast announced in 2022 that it would build a $4 billion factory and employ 7,500 people in Chatham.
FedEx paid $58.8 million for the 338,000-square-foot Chatham County distribution center it had been leasing, buying the warehouse from Truist Equity Funding. Connect CRE, citing the Triad Business Journal, reported the price and named the seller.
At $58.8 million for 338,000 square feet, the price works out to roughly $174 a square foot. The building sits on more than 50 acres in Triangle Innovation Point West, an industrial park inside the larger Triangle Innovation Point megasite near Moncure.
VinFast announced in 2022 that it would build a $4 billion factory and employ 7,500 people in Chatham. That project has stalled, and North Carolina is suing the automaker to regain control of the land after it failed to meet investment and job promises, according to Connect CRE.
The owners of Triangle Innovation Point West are readying nearby land for a 750-megawatt data center, according to Connect CRE.
The transaction provides a comparable sale of about $174 a square foot for modern big-box buildings in siting decisions, where power access now track the underwriting.
Reported by the Deals desk from Connect CRE and Triad Business Journal (via Connect CRE). Published . Corrections