Press Release brought to you by HFF

HFF closes $21.5 million sale of two Charlotte, North Carolina call center/light industrial assets

05/02/2016

CHARLOTTE, NC – May 2, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $21.5 million sale of Whitehall I and II, two call center/light industrial assets totaling 204,800 square feet in Charlotte, North Carolina. 

HFF marketed the property on behalf of the seller, Fort Properties, and procured the buyer, a joint venture between CIP Real Estate and CrossHarbor Capital Partners LLC.  CIP Real Estate is an owner and manager of more than 800,000 square feet of industrial and flex product in five parks in Charlotte, including Charlotte Commerce Center and Coffey Creek International Business Center, which are in close proximity to Whitehall I & II.

Whitehall I and II are located at 2915 and 2745 Whitehall Park Drive off of Interstate 485 and South Tryon Street in the southwest Charlotte submarket.  The properties are part of the Whitehall development, a 700-acre community comprised of a technology park, corporate office park, light industrial park, retail district and several residential districts.  Tenants at the fully leased property include Xerox, Osram Sylvania, Burkert Contromatic Corporation and Treffert Coatings USA.

The HFF investment sales team representing the seller was led by senior managing directors Ryan Clutter and Christopher Norvell. 

"Whitehall I and II offered a compelling opportunity to the marketplace as the assets are best-in-class properties catering to a diverse base of office, warehouse, technology, and call center type users.  These assets are poised to continue to experience strong leasing demand and generate attractive investment returns," commented Clutter.

"The sale of Whitehall I and II is yet another data point signifying the strength and appeal of the Charlotte market to institutional investors.  The market continues to attract more and more investor interest as the city grows creating a favorable environment for sellers," added Clutter.

About CIP Real Estate
CIP Real Estate is a full service real estate investment and management company focused on the acquisition, development, repositioning and management of office, business and industrial parks. Founded in 1995, CIP Real Estate owns and manages more than five million square feet of quality real estate throughout California, Nevada and North Carolina.  Visit www.ciprealestate.com for more information.

About CrossHarbor Capital Partners LLC
CrossHarbor Capital Partners LLC is a Boston-based alternative investment management firm that invests in core-plus, value add, and opportunistic commercial real estate transactions. CrossHarbor has managed institutional capital on a fully discretionary basis since 1993 and has invested in more than 175 transactions with an aggregate underwritten property value in excess of $13 billion. Visit www.crossharborcapital.com for more information.

About HFF
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).  HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing.  For more information please visit hfflp.com or follow HFF on Twitter @HFF.

Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a North Carolina licensed real estate broker.

Source

HFF

Want more news about HFF? Click here