LBA Logistics recently purchased two industrial properties in the Union Cross Industrial Park near Winston-Salem for $38.16 million. The seller was Westcore. The Triad Business Journal reports Westcore purchased the two Millennium Drive properties from developer Front Street Capital for a combined $36.9 million in 2022.
LBA purchased the industrial buildings at 4991 Millennium Drive and 4980 Millennium Drive for $21.8 million and $16.4 million, respectively.
The 4991 Millennium Drive property contains a 200,000-square-foot building on a 21.5-acre site. Bunzl Distribution USA Inc. opened its $13.4 million plant at the site in 2019.
4980 Millennium Drive contains a 140,000-square-foot building on an 11.17-acre site. Fastener and Hooks manufacturer Southern Carlson leases the property.
LBA focuses on the ownership and operation of industrial buildings across the country.
LBA Logistics’ only other property in North Carolina is the RiverWest industrial building in Belmont, according to the portfolio on its website.
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