A Kernersville industrial campus that recently served as an R.J. Reynolds Tobacco warehouse has been sold for $16.9 million to a New Jersey custom modular closet manufacturer.
The buyer, according to a Forsyth County Register of Deeds filing, is 700 N. Main St. LLC, an affiliate of Modular Closets Multifamily, located in Lakewood, New Jersey.
The sellers are Mac & Mac LLC of Randleman, McCall Rentals II LLC of Jamestown and McCall Venture Management LLC of Greensboro.
The 38.8-acre lot at 700 N. Main St. contains buildings of 354,210 and 29,810 square feet with a combined 250 parking spaces.
The campus also once had HanesBrands Inc. as a lessor.
Modular officials could not be reached for comment on the company’s plans for the buildings.
The manufacturer was founded in 2015 as an importer of closet products before changing its business model to making its own products in Lakewood.
Modular offers products at wholesale prices for new construction and renovation projects. It also makes products for bathroom upgrades.
Modular says on its website that it “works with multifamily developers across the United States with a turnkey process that we manage start to finish.”
Another division sells modular, ready-to-assemble closets to consumers.
“Our unique modular systems allows you to customize your closet for any budget, giving you the high-end custom closet look for a fraction of the cost of similar closet systems,” the company said on its website.
rcraver@wsjournal.com
336-727-7376
@rcraverWSJ
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