The Parker Lincoln portfolio consists mostly of smaller tilt-wall industrial building with 20-foot ceilings with rear loading doors and front office space. The buildings average about 50,000 sf, and most (49 of the 66) are located in five master planned business parks. The other buildings include a mix of stand-alone service center retail, bulk distribution and mixed use properties.

The buildings are located near Interstate 440 (Beltline), the recently completed section of Interstate 540, and Research Triangle Park. Occupancy is currently 88%. BPG vice president David Barndt says BPG will open a regional property management firm to manage the portfolio. The firm will include "a majority of the existing management and leasing personnel who previously worked with the Seller," says Barndt in a prepared statement. Neither Brandt nor BPG senior vide president Roy Perry was immediately available for comment Friday morning.

Mark Shoenholtz of Eastdil in New York had the disposition assignment. The buyer's broker, CB Richard Ellis SVP Ben Kilgore, says the transaction is the largest in North Carolina in the last decade, though that could not immediately be confirmed Friday morning. It is definitely the largest investment Berwind Property Group has ever been involved in, topping its $240-million acquisition of a 5,000-unit multifamily portfolio in 2003.