Charlotte, North Carolina Portfolio

Location Characteristics: Charlotte has direct access to I-85, I-77 and I-40, which provide extensive overland connections to major metropolitan areas, including Raleigh-Durham, Greenville-Spartanburg, Richmond, and Atlanta. A short drive away, Charlotte Douglas International Airport serves as an intermodal hub between air, rail, and truck to east coast seaports and is the 6th busiest airport in North America.

 

Market Insight: Charlotte’s industrial market remained strong in 2024, with 4.5 million square feet of new completions. Asking rents have been steadily increasing since 2017, reaching $5.77 by the end of 2024. Catawba County remains a key industrial hub, benefiting from its strategic highway access. Charlotte continues to be one of the fastest-growing metro areas in the U.S., with its industrial sector adapting to increasing demand.

Charlotte, North Carolina Portfolio

Location Characteristics: Charlotte has direct access to I-85, I-77 and I-40, which provide extensive overland connections to major metropolitan areas, including Raleigh-Durham, Greenville-Spartanburg, Richmond, and Atlanta. A short drive away, Charlotte Douglas International Airport serves as an intermodal hub between air, rail, and truck to east coast seaports and is the 6th busiest airport in North America.

 

Market Insight: Charlotte's industrial demand and leasing activity, reached record levels in late 2021/early 2022, with 7.8M square feet of net positive absorption in 2021 alone. The market had a 2.9% vacancy rate at the end of 2021 and it is one of the fastest growing metro areas in the United States. The Catawba County submarket is Charlotte’s largest and has great access to the area’s highways.

1570 East P Street Extension, Newton, NC 28658

1 building comprising 155,220 square feet

Center Point Business Park

Location:Newton, NC

Acquisition Date:5/19/22

# of Buildings:1

Purchase Price/SF:$131.43

Tenant:Single-Tenant

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Salisbury Business Park

Portfolio Fit: 155,220 SF of state-of-the-art Class A manufacturing and distribution space, 1570 East P Street Extension, is 100% leased to a leading global supplier of driveline and chassis technology, ranking second in the top 50 for the European automotive market. Constructed as a built-to-suit, this facility provides a high-quality tenant that is heavily invested in this location, and a functional manufacturing/distribution building which is easily expandable, in an irreplaceable location within the Catawba County Submarket, and access to the largest manufacturing workforce in the region. 

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Metro Area Building Name Gross Building Area (SF) Property Sub-Type Tenant
Charlotte 1570 East P Street Extension 155,220 Warehouse/Light Manufacturing Single-Tenant
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