Charlotte, NC – August
16, 2016 - CBRE Group, Inc. is
pleased to have arranged the sale of CLT Logistics Center in Charlotte, NC. Patrick Gildea, Bryan Crutcher and Anne Johnson exclusively represented the seller,
Carlson Real Estate, in the transaction. The portfolio sold to Meritex for
$46.25 million on August 10, 2016, and represents the first investment in Charlotte
for the Minneapolis-based real estate investment company.
The sale of CLT Logistics Center, located at 3100–3401 International
Airport Dr. and 3100–3140 Yorkmont Dr., consisted of a 583,021-square-foot business
park and 14.87 acres of additional land. CLT Logistics Center features high dock-door
counts that exceed market average, large truck courts and wide truck entrances.
CLT Logistics Center is located in Charlotte’s Southwest Industrial
submarket—the city’s largest submarket—which at nearly 50.8 million square feet
comprises 31.6% of Charlotte’s overall Industrial market. As of second quarter
2016, the Southwest submarket witnessed 22 consecutive quarters of positive
absorbency and a year-over-year rental rate increase of 11.1%.
Patrick Gildea commented, “Well-located, Class-A industrial portfolios
in the Charlotte market are in extremely high demand, particularly because they
are rare. We garnered interest from a wide variety of institutional and private
capital sources from around the nation.”
Anchor tenants include Bimbo Bakeries, FedEx and DC74 Data Centers.
About CBRE Group,
Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in
Los Angeles, is the world’s largest commercial real estate services and
investment firm (based on 2015 revenue).
The Company has more than 70,000 employees (excluding affiliates), and
serves real estate investors and occupiers through more than 400 offices
(excluding affiliates) worldwide. CBRE
offers a broad range of integrated services, including facilities, transaction
and project management; property management; investment management; appraisal
and valuation; property leasing; strategic consulting; property sales; mortgage
services and development services.
Please visit our website at www.cbre.com.