Stonelake Capital Partners Acquires 613,353 SF Industrial Portfolio at Apex Commerce Center in Raleigh

Dallas-based Stonelake Capital Partners has completed the industrial real estate acquisition of Apex Commerce Center, a three-building, 613,353-square-foot Class A warehouse real estate portfolio located in the Apex submarket of Raleigh, North Carolina, the firm announced May 6, 2026.

The portfolio spans three addresses — 2061 Production Drive, 2170 Production Drive, and 600 Pristine Water Drive — and features 32-foot clear heights, multi-tenant storefront configurations, and abundant trailer and employee parking. Construction was completed in April 2026, and Stonelake closed the purchase shortly thereafter. Financial terms of the transaction were not disclosed.

Forward Sale Structure Secured Pre-Closing Leasing Activity

The real estate acquisition was executed as a forward sale, with Stonelake entering into a purchase agreement during construction in 2025. As part of the arrangement, the firm retained leasing rights through the final phase of industrial real estate development, generating what the company described as strong leasing activity and at least one signed lease prior to closing.

Josh Lowe, Stonelake's Senior Vice President of Construction, oversaw construction completion of Apex Commerce Center while the portfolio was under contract. The transaction was brokered by Dave Andrews of Jones Lang LaSalle. Leasing inquiries for the property are being handled by Foundry Commercial, with contacts Jackson Rives, Jordan Rives, and Jeff Stephens named as leasing representatives.

Apex Submarket Anchored by Major Mixed-Use and Healthcare Developments

Apex Commerce Center is located adjacent to Veridea, a $7 billion, 1,100-acre mixed-use real estate development that will include 2,600 residential units and more than 200,000 square feet of commercial space. Veridea will also serve as the home of Wake Tech's Western Wake Campus.

The property is also proximate to the recently announced NC Children's campus, a $3 billion joint venture between Duke Health and UNC Health situated on 200 acres. The facility is designed to provide comprehensive pediatric healthcare and research services and is expected to create an estimated 8,000 permanent jobs. NC Children's is scheduled to open in 2030.

The portfolio offers direct access to US-1, NC-55, and NC-540, supporting logistics and distribution operations. The Apex submarket has seen its population grow by more than 30% since 2020 and is consistently ranked among the fastest-growing suburbs in the United States, according to Stonelake.

Raleigh and Charlotte Remain Key Markets for Stonelake's Industrial Platform

The acquisition expands Stonelake's footprint in the Carolinas, where the firm currently owns or has under contract more than 1.75 million square feet across the Raleigh and Charlotte markets. Will Jenkins, Jamie Cantrell, and Andrew Askew lead Stonelake's industrial platform across both markets. The firm said it remains focused on acquiring existing assets and pursuing select industrial real estate development opportunities aligned with its investment strategy in the region.

Stonelake currently owns 22.5 million square feet of industrial real estate across more than 230 buildings in 14 Sunbelt markets, with an average building size of approximately 95,000 square feet. Since 2014, the firm has acquired or developed 391 industrial buildings totaling 34.5 million square feet. In addition to its industrial holdings, Stonelake's broader portfolio includes 8,155 multifamily real estate units and 3.3 million square feet of office real estate across Sunbelt markets including Atlanta, Austin, Charlotte, Dallas, Houston, Nashville, Orlando, Phoenix, San Antonio, Southern California, South Florida, and Tampa.

The firm manages institutional capital through discretionary private equity investment partnerships and counts among its investors college endowments, charitable foundations, hospital systems, and pension funds. Stonelake has raised $3.2 billion of equity across nine private equity funds over 19 years. The firm was founded in Austin, Texas in 2007 by Kenneth Aboussie, Jr. and John A. Kiltz.

Sources: Stonelake Capital Partners Press Release, May 6, 2026