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Atlanta & Southeast  + Carolinas + Charlotte  + Industrial  |  October 4, 2023
Mike Boyd
By: Mike Boyd

NY-Based Investor Pays $82M for Charlotte Industrial Site

New York-based LM Real Estate Partners acquired Logistics Pointe Distribution Center in Charlotte. The Charlotte Business Journal reports the buyer acquired the 879,128-square-foot industrial facility for $82 million from NYL Investors LLC, which is affiliated with New York Life Insurance Co. The multi-tenant facility is 100% leased and sits on a 52.3-acre site on General Drive, just off I-77.

A JLL team led by Dave Andrews represented the seller and also procured the buyer in the deal.

LM Real Estate Partners is not unknown in the Charlotte area. In October 2021, the real estate company acquired a logistics facility in northeast Charlotte for $10.6 million. The firm was founded in 2015 and has acquired more than 2.5 million square feet of industrial real estate since then.

LM Real Estate Partners focuses on industrial properties, and its portfolio includes N.C. assets in Statesville and the Raleigh area.

Read More News Stories About: JLL
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LM RE Partners

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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