A partnership between New York Life Insurance Co. and LRC Properties has completed the $63.75 million sale of Premier Distribution Center, a 1.36 million-square-foot, multi-tenant industrial complex in the heart of Charlotte’s Southwest Industrial submarket.
Somerset Properties purchased the asset in partnership with Waterfall Asset Management.
Situated on 95 acres at 1900 Continental Blvd., Premier Distribution Center is in the high barriers-to-entry Southwest Industrial submarket, which is one of the Southeast’s most institutionally owned industrial submarkets. The facility is positioned at the interchange of Interstate 77 and Interstate 485 with easy access to Interstate 85, the industrial backbone of the Southeastern United States. Additionally, the property has excellent regional connectivity due to its proximity to Charlotte Douglas International Airport and Uptown Charlotte along with access to Charlotte’s densely populated suburbs.
Originally cons
