APG Capital Expands Its Triad Industrial Portfolio With Strategic Rural Hall Acquisition

Located just north of Winston-Salem, the 279,000-SF warehouse adds scale, durability, and long-term optionality to APG Capital’s growing industrial platform.

APG Capital has expanded its industrial footprint in North Carolina’s Triad with the acquisition of a 279,000 square-foot, single-tenant warehouse located at 275 Northstar Drive in Rural Hall, North Carolina, approximately 10 miles north of downtown Winston-Salem. The $12.6 million acquisition strengthens APG Capital’s presence in the region and reflects continued confidence in the Triad’s long-term industrial fundamentals.

Originally constructed in 1994, the warehouse sits on 21 acres and features 27-foot clear height, ESFR sprinkler coverage, and 22 dock-high doors, offering the functionality and scale demanded by today’s distribution and logistics users. The property has been fully leased since 2013 to Mr. Bar-B-Q, a designer and distributor of grilling accessories, fire pits, and outdoor living products with national retail distribution through The Home Depot and Lowe’s.

In addition to the main facility, the acquisition includes an adjacent 7.4-acre parcel, providing future development potential and near-term flexibility for outdoor storage and operational expansion—an increasingly valuable feature for industrial users seeking room to grow.

The property was acquired from Somerset Properties, a well-established industrial real estate investor with a strong presence across the eastern United States, including the Greensboro market.

The transaction was led by Daniel Walser, Vice President of Acquisitions, on behalf of APG Capital, APG’s investment platform focused on acquiring and managing high-quality industrial and commercial assets.

“This investment aligns with our strategy of acquiring well-located industrial assets supported by durable tenancy and long-term growth potential,” said Walser. “The transaction was a major success for all parties involved, and we look forward to a long-term relationship with both the building user and our investment group.”

With this acquisition, APG now owns and manages approximately 450,000 square feet of industrial space across the Triad, contributing to a total portfolio of approximately 2.8 million square feet. The Rural Hall facility further reinforces APG Capital’s focus on well-performing industrial assets in growth-oriented markets throughout North Carolina and the Southeast.

To learn more, visit APG Capital, and view APG’s investment portfolio here.