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The Briefcase

The Briefcase

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Three Forsyth mobile home
parks sell for $14M

A New York residential investment group has spent a combined $14 million to purchase three Forsyth County mobile home parks, according to county Register of Deeds filings Monday.

The buyer of all three properties is located at 31 Howard St., Floor 2, in New York City. Robun Khanna is listed as the organizer of all three companies, according to the N.C. Secretary of State’s office.

The seller is listed as being located at 10221 River Road in Potomac, Md.

The largest of the three properties was sold for $6.58 million to Cedar Grove MHP II LLC. It involved Cedar Grove Mobile Home Park at 209 Pegg Farm Lane in Kernersville, along with 455 Village Pines Lane in Kernersville.

The second purchase was Parkwood Mobile Home Park, which sits on a 29.4-acre site at 338 Barnes Road in Winston-Salem. The property was bought for $4.36 million by Parkwood MHP II.

The third property is Lambeth Mobile Home Park at 4630 S. Main St. in Winston-Salem. The 8.05-acre property was bought for $3.07 million by Lambeth MHP II LLC.

 Richard Craver

Peloton purchase of Precor
includes Guilford plant

A Whitsett manufacturing plant is among assets being acquired by Peloton as part of its proposed $420 million purchase of Precor announced Tuesday. The deal is expected to close in early 2021.

Precor has combined 625,000 square feet of production space in Whitsett and Woodinville, Wash. The space includes in-house tooling and fabrication, product development, and quality assurance capabilities.

The $26 million Whitsett plant opened in 2011 at 230,000 square feet. At last count, Precor had more than 140 employees at the facility.

Although Peloton has most of its products make offshore by third-party vendors, it said it will keep Precor’s U.S. manufacturing “to be able to deliver connected fitness products to members sooner.”

Peloton said it “plans to establish U.S. manufacturing capacity by the end of 2021, boost research and development capabilities with Precor's highly skilled team, and accelerate Peloton's penetration of the commercial market.”

 Richard Craver

High Point shopping center
sells for $23.5 million

A New Jersey commercial real-estate firm has spent $23.5 million to purchase a High Point shopping center, according to a Guilford County Register of Deeds filing Monday.

The shopping center at 265 and 271 Eastchester Drive was purchased by HP Center LLC and HOP Center TIC LLC, both affiliates of First National Realty Partners of Red Bank, N.J.

First National Realty identified the shopping center as High Point Harris Teeter Center. Other anchors are PetSmart, Ross, Staples and TJ Maxx.

The seller is H.P.M. Ltd. Partnership.

 Richard Craver

Peters Development buys
shopping center for $5M

Peters Development LLC’s Triad commercial real-estate buying spree has expanded to include paying $5.01 million for the Fairfield Square Shopping Center in High Point, according to a Guilford County Register of Deeds filing Monday.

The 9.49-acre shopping center at 2831 S. Main St. contains 88,288 square feet and is anchored by Food Lion.

The seller is RCC Fairfield Square LLC of Richmond, Va.

On Nov. 30, Peters spent $2.1 million to buy a former drugstore site in High Point at 2805 S. Main St.

In October 2019, Peters spent $2 million to buy the former J.D. Byrider used-auto dealership site in Kernersville. The 10,193-square-foot property is on 3.9 acres at 975 S. N.C. 66.

In November 2018, Bethany spent $2.9 million to buy Northchase Shopping Center at 5041 University Parkway in Winston-Salem. Bethany Medical Center has a 5,600-square-feet location in the renamed Peters Plaza.

 Richard Craver

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