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Industrial Portfolio Sells for $26M

CHARLOTTE, NC-Combined, the two assets in the Whitehall Corporate Center and Technology Park are 97% leased.

By Melissa Kress | Updated on July 14, 2006

(To read more on the industrial market, click here.)

CHARLOTTE, NC-In an industrial market that has seen continued growth absorption, a two-building portfolio has changed hands. Los Angeles-based Fort Properties, Inc. purchased the 204,800-sf portfolio from American Asset Corp. for $26 million.

The deal involves two buildings within the Whitehall Corporate Center and Technology Park–a 109,600-sf multi-tenant warehouse/call center at 2745 Whitehall Park Dr. and a 95,200-sf multi-tenant warehouse building at 2915 Whitehall Park Dr.Built in 1999, 2745 Whitehall Park Dr. is on 9.75 acres, with an additional 7.52 which can be used as a 1,096-car parking lot or for future expansion, according to Venture One Real Estate, LLC, which brokered the deal. It is 100% leased with Sprint Nextel Corp. occupying 90,000 sf and Suppression Technologies, Inc. occupying the remaining 19,600 sf.

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