BELMONT, NC—Avison Young has completed the sale of a 124,213 square-foot distribution facility at 2100 The Oaks Parkway, here in the greater Charlotte industrial market.
Erik Foster and Mike Wilson of Avison Young's National Industrial Capital Markets Group, in coordination with Chris Skibinski, who leads Avison Young's industrial efforts in Charlotte, represented an institutional fund advisor in the sale to GCP Capital Group. Financial terms were not disclosed.
The building is fully-leased to Industrial Distribution Group, Inc. for use by its IDG USA LLC division, which specializes in the distribution of maintenance, repair and operations supplies to industrial customers.
This transaction demonstrates the continued health of the industrial sector and the shift in investor activity toward strong secondary markets.
“This is a great opportunity for the new buyer to acquire a fully leased building with strong tenancy in the greater Charlotte market,” said Foster. “Charlotte is a strong industrial market that continues to draw investors seeking strong yields and long-term stability.”
The building is on a nearly 14.18-acre site and is ideally located with easy access to I-85 and the Charlotte Airport, which is a strong national cargo shipment hub and the largest hub for US Airways. Charlotte also is home to a dedicated ports terminal that links facilities from throughout the region.
The Foster and Wilson team has 30 years of combined experience in investment sales, providing asset advisory, disposition and sale-leaseback services to commercial property owners in Chicago and throughout the country. Avison Young, headquartered in Toronto, is a global firm owned and operated by its principals.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
