CN Investors, LLC, an affiliate of APG Capital, has closed on the $17 million purchase of a 176,778-square-foot Class A office building in McLeansville, North Carolina. The 3-story building was originally built in 2004 to house Citibank. Today it is home to LabCorp, one of the largest employers in the Triad. The property is situated on 21 acres at 5450 Millstream Road, fronting I-40 about 3 miles east of the Greensboro Urban Loop.
Daniel Walser, Vice President of Acquisitions at APG Capital, expects LabCorp will continue as the tenant and is excited to continue fostering that relationship. Walser added “the acquisition is integral to APG Capital holdings because the property has a history of being exceptionally well maintained, favorable rent factor, and attractive financing bringing the opportunity to fruition.”
Daniel Walser and James Anthony III, Vice President of Acquisitions at APG, were responsible for sourcing the deal and closing the acquisition. The sale was facilitated by Patrick Gildea of CBRE representing the Seller.
APG Capital is a real estate investment and development firm headquartered in Raleigh, North Carolina. Jim Anthony, CEO and founder of APG, started the company in 1987. APG Capital has purchased, developed, leased, and managed commercial real estate assets in the Southeast for over 30 years.