CBRE has arranged the all-cash sale of Cordage — a Class A warehouse and distribution facility in the Arrowood industrial area of Charlotte, NC — to Boston, MA-based TA Realty. The property was 100% occupied by eight tenants at the time of sale.

Patrick Gildea, Matt Smith, Anne Johnson, Bryan Crutcher, Grayson Hawkins, Robert Hardaway, Frank Fallon and Trey Barry of CBRE represented the seller, Charlotte, NC-based Childress Klein.

“Charlotte has experienced more new construction in the last few years than ever before, however the vacancy rate continues to decline because of what feels like insatiable demand,” said Gildea. “Supply for smaller and mid-bay product has been more tempered, which drove incredible demand for Cordage.”

Cordage is a 212,000-square-foot warehouse and distribution facility with 15,519 square feet of dedicated office space.  It sits on 17.08 acres on Cordage Street in Charlotte’s southwest industrial submarket just minutes west of the I-77 and I-485 interchange.