Stream Realty Assists Northridge Capital with $19.15M Grinnell Water Works Sale
A Charlotte-based real estate investment firm purchased Grinnell Water Works at 1435 W. Morehead St. from Washington, D.C.-based Northridge Capital. It was 70-percent leased at the time of the sale.
Stream Realty Partners Senior Associate Alex Olofson and Jared Londry of PointBlank Ventures represented the seller.
Grinnell Water Works was built in 1930 and offers approximately 52,000 square feet of rentable space. The building features a standout sawtooth roof design with industrial skylights, loft ceilings, and exposed brick.
“We at Northridge Capital have tried to be good stewards of a truly iconic asset in Grinnell Water Works for the past seven years and wish the new owner the best of luck going forward,” said David Etemadi, Managing Director with Northridge Capital. “We would also like to thank Alex, Insite Properties, Jared, and everyone involved for an incredibly smooth transaction during a very difficult time in the market.”
Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.