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Belmont Business Park Trades for $70M
An industrial project in Belmont has been sold by Tribek Properties for $70.1. RiverWest, an industrial park with two buildings was sold to LBA Realty/LBA Logistics for around $115 per square foot.
The Charlotte Business Journal reports the buildings, totaling over 610,000 square feet of industrial space, were 100% leased at the time of the sale. The larger of the two RiverWest buildings is 383,000 square feet. It sold for $45 million. Kiser Harriss Chemical Distribution Centers is the tenant. The smaller building is 228,000 square feet, sold for $25.3 and was leased to Total Packaging and Trophy Depot.
Tribek formally announced RiverWest in 2020 as its first industrial project. The two buildings at the park delivered in the fourth quarter of 2022.
JLL’s capital markets team led by Pete Pittroff helped broker the sale.
- ◦Sale/Acquisition
