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National  + North Carolina  + Industrial  |  January 27, 2020
David Cohen
By: David Cohen

Charlotte Distribution Center Trades for $64M

JLL has arranged the $63.7 million sale of Premier Distribution Center, a 1.3 million-square-foot industrial facility in Charlotte’s Southwest Industrial submarket.

Situated on 95 acres at 1900 Continental Blvd., the industrial complex was originally constructed as the North American headquarters for Continental Tire. The center was then rebranded into a modern distribution complex that features 24-foot clear heights, ESFR sprinkler systems, motion-sensor LED lighting, 110 loading positions, abundant parking and trailer storage on-site. The sale also included a 26-acre development parcel adjacent to the complex.

Chris Norvell, Patrick Nally, Pete Pittroff and David Andrews of JLL represented the seller, a partnership between New York Life Insurance Company and LRC Properties. Somerset Properties purchased the asset in partnership with Waterfall Asset Management.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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