Treeline acquires 80 acre industrial asset in NC

Wilmington, NC Treeline, a New York-based value-add real estate developer, owner and investor in office and industrial properties, has acquired an 80-acre industrial site in Wilmington, NC and a multi-million-dollar plan to develop a modern industrial park on the parcel, including a rehabilitation of the existing 115,000 s/f industrial facility.

Treeline acquired the property from OmniSource LLC in an off-market transaction for an undisclosed price and represented themselves in the transaction. OmniSource was represented by Cape Fear Commercial in the deal.

The acquisition mark’s Treeline’s second investment in the Southeast, following their acquisition of a $9 million two-building industrial portfolio at 3700 and 3720 US Highway 421 North last year from Burgess Corp. That portfolio consists of a 66,274 s/f recently renovated Class A industrial building and a newly constructed 40,000 s/f industrial property, both fully leased to market rate tenants.