Lucern Capital Partners Acquires Indeneer Light Industrial Business Park Portfolio in North Carolina’s Piedmont Triad Region for $4.1 Million

Kernersville, NC – February 27, 2024 Lucern Capital Partners, a prominent real estate investment firm headquartered in Red Bank, New Jersey, has acquired four buildings within Indeener Business Park for $4.1 million. The light industrial portfolio sits on 7.9 acres and totals 51,450 square feet across four main building structures. This strategic investment brings Lucern’s current transaction volume to over $250 million.

Built in 1999, Indeneer Business Park is strategically located at the center of the “Triad,” home to over 900,000 jobs, interstate highway connectivity, and the Piedmont-Triad International Airport. Property tenants benefit from being within close proximity of interstates I-40 and I-85, offering them unmatched accessibility to two major highways that enable them to reach 60% of the U.S. population within a two-day truck drive. Indeneer Business Park presents a golden opportunity for manufacturing and distribution companies to operate in one of the primary manufacturing and transportation hubs of the region.

“The acquisition of the Indeener light industrial portfolio marks another key milestone for Lucern Capital Partners’ commitment to expand its portfolio with high-quality, income-generating properties across diverse markets,” said Frank Forte, Managing Partner and Chief Investment Officer of Lucern Capital Partners. “North Carolina’s Piedmont Triad region offers tremendous appetite for industrial investment with it being one of the biggest manufacturing and transportation hubs in the Southeast. This acquisition aligns perfectly with our mission to provide value to our investors while contributing positively to the regions that we operate in.”

Located at 604, 610, 616, and 621 Indeneer Drive in Kernersville, North Carolina, the property features a resilient brick and metal façade, high-quality roll-up doors, and metal anodized windows. The property is 100% occupied, with strong demand for the asset type and less than 3% vacancy available in the local market. Additionally, a 1.02-acre parcel of land adjacent to Building 614 offers opportunities for additional income streams.

The Indeener light industrial portfolio transaction follows another acquisition in the asset class, Crosslake Park in Mooresville, NC. The 55,000-square-foot, 100% occupied property was acquired by Lucern in late 2023. Crosslake’s proximity to major transportation hubs, highways, and Charlotte’s central business district makes it a prime destination for tenants seeking convenient access to markets and customers. Lucern’s North Carolina portfolio also includes assets in Charlotte and Wilmington, NC.

About Lucern Capital Partners

Founded in 2016, Lucern Capital Partners is a real estate investment firm that makes opportunistic investments in industrial, multi-family, and mixed-use assets in the Sunbelt, with a focus on the Carolinas. Since its inception, the firm’s focus has centered on delivering compelling risk-adjusted yields for accredited investors. Visit Lucern Capital Partners’ website to learn more about the firm and its principals: lucerncapital.com.