Comunale Properties Acquires Charlotte Warehouse and Outdoor Storage
Comunale Properties has purchased an interstate-fronting property in Salisbury, NC. The 3.13-acre site includes a stand-alone warehouse and more than a half-acre of industrial outdoor storage capability. The asset fronts Interstate 85 at 1428 Lutheran Synod Drive.
Upon acquisition, Comunale leased the property’s 25,600-square-foot warehouse and outdoor storage to a leading national mechanical, fire protection and HVAC services company that will use the building for a regional fabrication facility.
Ben Rowell of Foundry Commercial represented the seller.
“Comunale focuses on high-growth markets with strong economic demand drivers, and Charlotte is a great fit for our investment thesis,” said Matt Dodge, vice president of investments for Comunale. “The area’s robust economy, coupled with its relatively low cost of living, is driving significant population and consumer growth. A substantial transportation network also makes Charlotte the epicenter of distribution in the Carolinas, as evidenced by the market’s 3-percent industrial vacancy rate.”