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Sign in Sign up for a FREE subscriptionCIP buys 13-property industrial portfolio in the Charlotte region
CIP Real Estate has acquired 13 industrial buildings for $75.5 million. The buildings are located at 77 Overlook in Charlotte, N.C.; International Corporate Center in Concord, N.C.; Lakefield Corporate Center in Mooresville, N.C.; and SouthCross Corporate Center in Rock Hill, N.C.
The seller was Albany Road Real Estate Partners. In 2017, Albany Road acquired the 13 properties — as well as one more at International Corporate Center — for more than $60 million.
The portfolio measures 560,453 square feet and is 91 percent occupied, according to CBRE, which brokered the deal.
The acquisition included 5521, 5523 and 5527 Lakeview Road in Charlotte; 4601, 4715, 4725, 4735 and 4745 Corporate Drive in Concord; 307, 319 and 343 Oates Road in Mooresville; and 3042 and 3049 SouthCross Blvd. in Rock Hill.
“In an environment in which most commercial real estate transactions are being postponed, industrial properties remain highly liquid, particularly in strong
