Lucern Capital Partners Completes Disposition of Building Within Indeener Business Park in North Carolina’s Piedmont Triad Region

Kernersville, NC – May 14, 2024 Lucern Capital Partners, a real estate investment firm headquartered in Red Bank, New Jersey, has completed a strategic disposition of one of four buildings acquired by the company approximately 75 days ago. The building, within Indeener Business Park, is a standalone 3-acre, 28-bay truck terminal and was purchased by K2 Real Estate Capital, a New York based investment firm, for $1,700,000. The building is currently leased through the first quarter of 2025 to SunBelt Furniture Xpress, a specialty trucking company focused on high-end furniture and home goods. 

Lucern acquired four buildings within Indeener Business Park for $4.1 million in February 2024. The light industrial portfolio sits on 7.9 acres and totals 51,450 square feet. While under contract, Lucern Capital Partners recognized the intrinsic value of the industrial outdoor storage (IOS) site and sought to identify a buyer who would recognize the value of the site. 

“Equally as important as creating value for your investors is leaving value creation for the downstream buyer,” said Frank Forte, Managing Partner and Chief Investment Officer of Lucern Capital Partners. “The location of this site off of I-40 in the Piedmont Triad region is highly sought after from a logistics standpoint. K2 is an investor who focuses on IOS and low coverage industrial and can extract additional value from this site through aggregation that is materially different from our business plan, creating a perfect synergy for both groups.” 

This transaction allows Lucern Capital Partners to reduce their basis in the property while returning capital to investors and bolstering capital expenditure reserves for the future. While the transaction was unplanned, this does not alter the trajectory of Lucern Capital Partner’s other buildings that are part of their Indeener Business Park portfolio in Kernersville, North Carolina.

Outside of the Indeneer Portfolio, Lucern has been active in the light industrial space over the last eighteen months adding assets in other North Carolina metros as well as in New Jersey.

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. Lucern applies a value-oriented philosophy to investing, which delivers superior, risk-adjusted returns. Lucern garners unequaled results because their management team enjoys distinct competitive advantages: maintaining an institutional approach, a yield-focused strategy, deep market knowledge, and active asset management.Visit Lucern Capital Partners’ website to learn more about the firm and its principals: lucerncapital.com.

Please reach out to Frank.Forte@LucernCapital.com, Managing Partner and Chief Investment Officer for acquisitions and dispositions related matters, and David.Hansel@LucernCapital.com, Managing Partner and Head of Investor Relations, for investment opportunities and more information on Lucern Capital Partners.

Media Contact:

Dan Stein

LaunchPad Creative, on behalf of Lucern Capital Partners

dan@launchpadcreativellc.com