CCP Commercial Real Estate Completes $15M Buy of Office Pair in Charlotte

CBRE has arranged the $15 million sale of Forest Park II & III, two Class A office buildings in Charlotte, NC totaling 89,717 square feet to CCP Commercial Real Estate. Patrick Gildea, Matt Smith and Grayson Hawkins represented the seller, TerraCap Management, LLC.

The properties were 91 percent occupied at the time of sale to Total Quality Logistics, Power Home Remodeling Group, Atrium Health and Stanley Martin Homes. The single-story office buildings were built in 1997 and feature exposed ceilings, efficient floorplates and an average parking ratio of six.

Forest Park II & III are part of the nine-building Forest Park business park positioned within the Interstate 77 corridor submarket. The park offers direct access to Interstate 77 and Interstate 485 and central to Charlotte Douglas International Airport.

“The airport submarket continues to see strong absorption and leasing activity, particularly single-story product that offers flexibility and direct access to tenant spaces,” said CBRE’s Gildea.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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