We are pleased to announce the sale of a 176,580 square foot industrial facility located at 1302 N. Salisbury Avenue in Salisbury, NC. The property was acquired by Piedmont Cheerwine Bottling Co., the company behind one of the most iconic soft drink brands in the Carolinas.

Terry Brennan, Partner at Trinity Partners, exclusively represented the seller, North Carolina Capital Partners, in the transaction.

Piedmont Cheerwine Bottling Co. plans to initially utilize the facility for distribution operations, with plans to explore potential bottling capabilities at the site in the future. The property’s current tenant, Packaging Corporation of America (PCA), is winding down corrugated manufacturing operations at the location and is scheduled to vacate in the fall.

“The Ritchie family and their team were a pleasure to work with throughout this process,” said Terry Brennan. “The sellers were genuinely excited to see a homegrown Rowan County employer not only stay in the county but expand here. Cheerwine has big growth plans for the area, and this facility positions them well to execute on that vision.”

“We are pleased to continue to expand our operations in Rowan County,” said Cliff Ritchie, CEO of Piedmont Cheerwine Bottling Co. “This new location is centrally positioned within our distribution area, providing the capacity needed to support our continued growth. Our current Salisbury location will continue to serve as our corporate headquarters.”

“Long before we decided to sell, Terry and his team invested significant time understanding the property and advising on the unique challenges of a 72-year-old industrial facility. His experience, judgment, and hands-on approach added real value throughout,” said Steve Horvath, Partner, North Carolina Capital Partners. “Our partnership is encouraged and happy to know that a successful Rowan County company since 1917 will be able to make good use of the existing facility and land.”

The facility offers a compelling combination of scale and connectivity. Strategically located near I-85 Exit 81, it provides direct access to Charlotte, Greensboro, major ports, and regional distribution networks. The property sits within a rapidly expanding industrial corridor anchored by major users including Aldi and Chewy. Rowan County’s pro-business environment and robust state incentive programs have attracted a steady influx of manufacturing, e-commerce, and distribution tenants, cementing the county’s reputation as a rising industrial hub.

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About Piedmont Cheerwine Bottling Co.

Created in 1917 by L.D. Peeler, Cheerwine is a one-of-a-kind soft drink with a unique cherry flavor and an iconic brand from Salisbury, North Carolina. Cliff Ritchie leads Piedmont Cheerwine Bottling Company as president and CEO. Available in supermarkets, restaurants, mass merchandisers, and convenience stores in select states nationwide, and at cheerwine.com.

About North Carolina Capital Partners

North Carolina Capital Partners is a real estate investment partnership founded in Charlotte, North Carolina in 1992. General Partners are Steve Horvath and Rob Carter, and limited partner Bill Davis.