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KBS Sells Nearly 500K-SF Charlotte Industrial Park
KBS sold Crossroads Distribution Center to Link Logistics for nearly $81.2 million. The four-building, 496,723-square-foot park is 100% leased. The Charlotte Business Journal reports that 13 tenants occupy on average around 38,000 square feet at Crossroads Distribution Center, which is located at 11401 Granite Street near the state line. In May, 2024, KBS secured a $38 million loan to refinance the center. KBS acquired Crossroads Distribution Center in 2008 for $26 million.
Stewart Calhoun, Casey Masters, Rob Cochran and Bill Harrison of Cushman & Wakefield represented KBS in its deal with Link.
Link is the developer behind North Charlotte Commerce Center, a three-building industrial park totaling over 900,000 square feet in Iredell County. Carolina Beverage Group recently signed a lease to occupy around 387,200 square feet. Link also developed the Paw Creek Logistics Center on Mount Holly Road in Charlotte.
- ◦Sale/Acquisition