JLL Capital Markets arranged the sale of 175 Circle M. Drive, a 120,000-square-foot industrial warehouse and distribution facility in Salisbury, North Carolina.
News release
03 April 2025
Fully leased industrial asset in Salisbury NC trades hands
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CHARLOTTE, Apr. 3, 2025 – JLL Capital Markets announced today the sale of 175 Circle M. Drive, a 120,000-square-foot industrial warehouse and distribution facility in Salisbury, North Carolina.
JLL represented the seller, First Industrial B & L, LLC. The Becker Organization acquired the asset.
The property is fully leased to Westlake Royal Building Products Inc., a leading manufacturer of exterior building products and a subsidiary of Westlake Corporation (NYSE: WLK).
Located at 175 Circle M Drive, the facility is strategically positioned less than two miles from Interstate 85, providing seamless access to the rapidly growing Charlotte MSA. Salisbury is situated halfway between Charlotte and the Greensboro-Winston-Salem Triad region, offering connectivity to major markets across the Southeast.
“We’re excited to have completed the acquisition of this property—our second industrial asset in North Carolina this year. We have strong conviction in the growth trajectory of Salisbury and its surrounding submarkets,” said Bryan Becker, Founder and CEO of the Becker Organization. “As we look ahead, we remain actively focused on acquiring well-located properties across all asset types and classes in the Southeast and other emerging markets. Our strategy continues to center on being disciplined, value-driven basis buyers in markets across the nation where we see long-term fundamentals at work.”
The JLL Capital Markets Investment Sales and Advisory team was led by Director Michael Scarnato, Senior Managing Director Pete Pittroff, Senior Director Dave Andrews and Analyst Allan Parrott.
"The sale of 175 Circle M Drive underscores the strength and appeal of the I-85 corridor as a premier industrial hub," added Scarnato. "With its robust infrastructure, skilled workforce and business-friendly environment, the Charlotte MSA continues to attract significant investment and development, driving unprecedented growth in industrial real estate demand and values."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About The Becker Organization
Established in 2000, The Becker Organization is skilled in acquiring, developing, leasing, managing, and financing real estate investment and development properties. As part of the overall business strategy, The Becker Organization invests with a long-term mentality and has been successful over time in building a balanced and well diversified portfolio of properties including residential, office, retail, parking garage, storage facility, and land development properties.