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Scannell Acquires 1.2 Million-SF Warehouse Complex from Dilweg

Regional Commerce Center in Durham Trades for $6.7M as Redevelopment Opportunity
February 15, 2018
Scannell Properties, an Indianapolis-based investor and developer that focuses on projects throughout the U.S. and Canada, acquired the 1.2 million-square-foot Regional Commerce Center in Durham, NC from The Dilweg Cos. for $6.7 million, or about $6 per square foot.

“RCC is perfectly positioned for development and we are looking forward to seeing the next phase of life for the property,” noted Anthony Dilweg, CEO of The Dilweg Cos.

Situated on 62.4 acres at 706 Ellis Rd., the 48-building complex was built in 1929 and served as a tobacco drying warehouse until 2005.

At the time of the sale, the Regional Commerce Center was 34 percent leased. The buyer plans to demolish and redevelop the vacant portion of the property and will modernize the remaining portion of the facility.

Chris Norvell, Justin Good and Patrick Nally of Holliday Fenoglio Fowler LP (HFF) brokered the transaction on behalf of the seller.

Please see CoStar COMPS #4136588 for more information on this transaction.
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