Stonelake Capital Companions has bought a 123,140-square-foot industrial constructing in Charlotte, N.C. Albany, N.Y.-based Steins Fiber bought the property for $13.5 million, Mecklenburg County public information present.
Avison Younger organized the transaction on behalf of the client, whereas Piedmont Properties represented the vendor.
The deal marks Stonelake Capital Companions’ second off-market industrial buy within the metro. The corporate entered the Charlotte industrial market in late 2024, with the acquisition of a completely occupied, 402,390-square-foot facility. On the time, Stonelake Capital Companions paid $51 million for the property, which is located inside the Harmony Airport Enterprise Park. That transaction was additionally organized by Avison Younger.
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The property is at 6000 Outdated Harmony Street and it’s absolutely leased to Basis Constructing Supplies and Dixie Plywood & Lumber Co., CommercialEdge exhibits. The asset permits easy accessibility to interstates 485, 85 and 277. Charlotte Douglas Worldwide Airport is inside 13 miles, whereas Harmony, N.C., is 22 miles away.
The constructing options 22-foot clear heights, 13 dock excessive doorways, one grade stage door, LED lights, skylights, a fenced truck court docket and potential for as a lot as 2 acres of outside cupboard space. Avison Younger’s Principals Chris Skibinski, Henry Lobb, Vp Abby Rights and Affiliate Dealer Jewell Gentry labored on behalf of the client. Companion Will Jenkins, Director of Investments Marc Hedrick and Funding Affiliate Jack Harvey with Stonelake Capital Companions additionally assisted. The vendor was represented by Piedmont Properties’ President Scott Hensley.
Robust industrial exercise
Industrial properties traded at one of many lowest common sale costs within the South area, of $79 per sq. foot, a current CommercialEdge report exhibits. Charlotte’s industrial gross sales quantity stood at $781 million, outperforming Baltimore ($486 million) and Memphis ($362 million). The metro maintained its place as one of many South’s tightest markets, with an industrial emptiness fee of 5.4 %, under the 7.5 % nationwide common.
In December, INDUS Realty Belief acquired a majority stake in a 21-building industrial portfolio with belongings in Charlotte and Charleston, N.C. Dubbed The Carolinas Portfolio, the 4.3 million-square-foot assortment is valued at $575 million. Earlier final 12 months, LM Actual Property Companions paid $97 million for an roughly 1.4 million-square-foot industrial property within the space, in a deal brokered by Avison Younger.
