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KBS Enters NC Industrial Market

CHARLOTTE, NC-Acquisition of I-77 warehouses caps more than a year of searching properties.

By Carl Cronan | Updated on April 01, 2008

CHARLOTTE, NC-KBS Realty Advisors has made its first industrial acquisition in the fast-growing Charlotte market, paying just over $26 million for Crossroads Distribution Center along Interstate 77. The 496,347-sf complex is in the city’s southwest corner, just north of the South Carolina line.

Robin Burke, senior vice president of KBS Realty, tells GlobeSt.com it has been seeking an acquisition opportunity in Charlotte for the last year and a half. The national property investor owns two North Carolina office properties, in Raleigh and Cary, she says.

“Charlotte is an exciting, growing market, and the competition to get into that type of market is always steep,” Burke says. She adds that KBS Realty took its time to find a quality site, rather than rushing to buy.

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