(Read more on the industrial market.)

CHARLOTTE, NC-A joint venture of Irvine, CA-based CIP RealEstate and Baltimore-based Alex Brown Realty has acquired the162,763-sf Interstate Business Park for $12.26 million. Located onStuart Andrew Boulevard at the intersection of Clanton Road andInterstate 77, the property consists of nine single-storyoffice/flex/warehouse buildings built between 1981 and 1984.

This is CIP Real Estate's first acquisition in the Southeast."We've been looking at the Southeast, specifically Charlotte, forthe last year," CIP principal Eric Smyth tells GlobeSt.com. "We owna lot of incubator/flex industrial parks, so this property fit theprofile of what we've managed in the past."

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Industrial
National