Raleigh, NC- Ritchie Brother's Auctioneers, an industrial auctioneer company, acquired 208 acres at Falls Lake Commerce Center, located in Butner, North Carolina for $6,000,000. The property was purchased for the relocation of Ritchie Brother’s current 33-acre Statesville, North Carolina auction site. Jim Allaire of Cassidy Turley represented Ritchie Brother’s Auctioneers in the transaction, while Jackson Rives and Chris Norvell of Cassidy Turley represented the seller, NWI Butner Partnership.
Falls Lake Commerce Center is a 50 acre master planned industrial park, consisting of a 150,800 square foot Class A warehouse building, two pads for an additional 190,000 square feet and 15 acres of retail land. NWI Butner Partnership also owns a 47 acre site designed for 385,000 square feet of bulk distribution space located across the street from the Falls Lake Commerce Center.
“The Falls Lake Commerce Center site will provide Richie Brother’s Auctioneers ample room for future expansion and great exposure on Interstate 85, which will assist in their growing operations in North Carolina,” states Jackson Rives.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with 3,000 professionals in 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $17 billion in 2010, manages 430 million square feet on behalf of private, institutional and corporate clients and supports over 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit http://www.cassidyturley.com/ for more information about Cassidy Turley.