June 15, 2020
CBRE has arranged the $75.5 million sale of an industrial portfolio consisting of 13 buildings in the metro Charlotte area. The buildings are located across four separate business parks in Charlotte, Concord and Mooresville, NC, as well as Rock Hill, SC.
Patrick Gildea, Matt Smith, Anne Johnson, Bryan Crutcher and Grayson Hawkins of CBRE represented the seller, Albany Road Real Estate Partners, in the transaction. Anne Johnson and Bryan Crutcher of CBRE will continue to lease the portfolio on behalf of the buyer, CIP Real Estate.
“In an environment in which most commercial real estate transactions are being postponed, industrial properties remain highly liquid, particularly in strong growth markets like Charlotte,” said Gildea. “While certain property values have deteriorated in the current environment, industrial pricing remains on par with Pre-COVID levels.”
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