Atlanta Property Group expands industrial portfolio with Raleigh-Durham acquisition

Atlanta Property Group (APG), a leading Atlanta-based real estate investment firm, today announces it has purchased North 70 Distribution Center, a 250,000-square-foot distribution facility located at 224 N. Hoover Road in Durham, NC, within the Raleigh-Durham MSA. The acquisition marks APG’s first industrial investment in the Raleigh market and further advances the firm’s strategy of acquiring functional, well-located distribution assets in high-growth Sun Belt markets.

Positioned in Research Triangle Park / I-40 corridor, the property is located less than a half mile from I-885 and within five minutes of I-85, providing seamless connectivity to I-40, Raleigh-Durham International Airport, and major Southeast logistics corridors. Situated on approximately 16 acres, North 70 Distribution Center features 26 dock-high doors, two drive-in doors, ±22-foot clear heights, tilt wall construction, LED warehouse lighting, over three acres of secured outdoor storage, and abundant auto and trailer parking. 40% of the warehouse area is fully conditioned, offering flexibility for a broad range of distribution and light manufacturing users.

The building is currently vacant and offers immediate lease-up potential in the RTP/I-40 submarket, where direct vacancy remains among the lowest in the region. The existing demising walls and office buildouts allow for single-tenant or multi-tenant configurations, providing optionality to accommodate users ranging from approximately 50,000 to 250,000 square feet.

“Raleigh-Durham continues to distinguish itself as one of the most dynamic industrial markets in the Southeast,” said Smith Haverty, partner at APG. “North 70 provides functional, infill warehouse space in a land-constrained corridor supported by strong population growth, institutional ownership, and sustained tenant demand. The property is being offered at a compelling rental rate relative to new construction and features valuable outdoor storage and conditioned warehouse space, which are increasingly difficult to find in this submarket.”

APG is an active participant in the industrial market, having acquired 19 buildings since 2022. APG plans to invest $150 million of committed equity into existing distribution properties in Atlanta, Charlotte, Greenville, Savannah, Nashville, Raleigh, and Central Florida markets by the end of 2026.