Charlotte Industrial Property Trades in All-Cash Deal
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.
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.