Charlotte Warehouse Investor Pays $41.4M for 4-Building Portfolio

Adler Real Estate Partners acquired four industrial assets in Arrowridge Business Park for $41.4 million. BankUnited provided a $25.6 million loan for the acquisition. Adler acquired 8041, 8107, 8227 and 8301 Arrowridge Blvd. in the transaction. All four buildings are about 48,600 square feet with 16-foot clear heights. The four buildings are 97% occupied.

Cabot Properties was the seller. It acquired the Charlotte properties in 2021 from WHI Real Estate Partners and Childress Klein for $32.5 million.

Arrowridge Business Park was originally developed by Childress Klein in 1979. It’s located off West Arrowood Road, near interstates 77 and 485. The park totals nine industrial properties with a combined 392,189 square feet across 13.6 acres. Childress Klein owns the five other buildings in the park.

Dunn Mileham, David Morris and Eric Jennings of Trinity Partners represented Cabot Properties in the deal.

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