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GID Pays $120M for Charlotte Warehouse Portfolio
GID purchased nine buildings and one vacant parcel for $119.5 million in the Woodland Business Park in Charlotte. It is off Starita Road, near Interstate 85 and the junction with Interstate 77.
The Charlotte Business Journal reports that Capital One provided financing for the acquisition.
The seller was La Caisse, a Canada-based global investment group and institutional pension fund. It acquired the properties in 2017 for $51 million.
GID’s buildings in the park range in size from approximately 30,000 square feet to 140,000 square feet. Tenants in the buildings include Wyda Packaging, Ryder Integrated Logistics, R.E. Michel Co., Chun Yu Works USA and Turmerry. There are 15 buildings in total in the park, which spans about 77 acres.
GID has more than 26 million square feet in its industrial portfolio. GID has executed more than $6.7 billion in industrial acquisitions since 2006.
- ◦Sale/Acquisition
