RenX sells Norman Berry property

Cox Enterprises announced that a joint venture in which its subsidiary holds a 50% interest has entered into a purchase and sale agreement to sell the Norman Berry property, a 7.7-acre parcel in East Point, Georgia, for $2.6 million. The agreement is effective as of August 17, 2026. The sale is part of RenX's strategy to monetize non-core legacy real estate and redeploy capital into its vertically integrated processing platform at Myakka City, Florida, where it plans to commission its Microtec milling system in the second half of 2026. At closing, approximately $800,000 of the proceeds will repay two notes RenX holds against the property, with the remaining $1.8 million split under the joint venture, giving RenX a 50% share of about $900,000. Closing is subject to conditions including purchaser due diligence, state program allocations, and financing. The purchaser, a Florida-based real estate development company, has made earnest money deposits. There is no assurance the transaction will close.