
Arden Logistics Parks Expands Industrial Portfolio in Charlotte, NC with Acquisition of Northridge Business Center
Arden Logistics Parks (ALP), a logistics operating platform launched by the Arden Group, has acquired Northridge Business Center. The four-building, flex industrial portfolio is within the metro-Charlotte and North Charlotte submarkets. ALP acquired Northridge Business Park from Fort Lauderdale-based SunCap for an undisclosed price.
The acquisition of the 174,000-square-foot portfolio augments ALP’s presence in the Charlotte market, which now boasts 20 multi-tenant buildings.
“This acquisition allows us to expand our platform in Charlotte, a robust market that we believe will continue to grow,” notes Craig A. Spencer, Chairman & CEO of Arden Group and ALP. “The portfolio currently maintains a diverse rent roll comprised of 30 NNN tenants and is a true standout asset in the region.”
Northridge Business Park is comprised of four facilities ranging from 22,655 to 65,382 square feet.
ALP’s portfolio also includes properties in Atlanta, Boston, Columbus, Dallas, Houston, Indianapolis, Philadelphia, San Antonio, and Tampa.