January 27, 2020
JLL has arranged the $63.7 million sale of Premier Distribution Center, a 1.3 million-square-foot industrial facility in Charlotte’s Southwest Industrial submarket.
Situated on 95 acres at 1900 Continental Blvd., the industrial complex was originally constructed as the North American headquarters for Continental Tire. The center was then rebranded into a modern distribution complex that features 24-foot clear heights, ESFR sprinkler systems, motion-sensor LED lighting, 110 loading positions, abundant parking and trailer storage on-site. The sale also included a 26-acre development parcel adjacent to the complex.
Chris Norvell, Patrick Nally, Pete Pittroff and David Andrews of JLL represented the seller, a partnership between New York Life Insurance Company and LRC Properties. Somerset Properties purchased the asset in partnership with Waterfall Asset Management.
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