Arden Logistics Parks announced the acquisition of Northridge Business Center, a four-building, flex industrial portfolio located within the metro-Charlotte and North Charlotte, N.C. submarkets. ALP acquired Northridge Business Park from Fort Lauderdale, Fla.-based SunCap, for an undisclosed price.
The acquisition of the 174,000-square-foot portfolio increases ALP’s presence in the Charlotte MSA market to 20 multi-tenant buildings. In addition to Northridge Business Center, ALP also owns and manages the Coffee Creek Business Park, a 15-building multi-tenant industrial facility totaling 393,000 square feet.
“This acquisition allows us to expand our platform in Charlotte, a robust market that we believe will continue to grow,” said Craig A. Spencer, chairman and CEO at Arden Group and ALP. “The portfolio currently maintains a diverse rent roll comprised of 30 NNN tenants and is a true standout asset in the region.”
Northridge Business Park is comprised o
