The complex is strategically positioned on 95 acres at the interchange of Interstate 77 and Interstate 485, and sits in the heart of one of the Southeast’s most institutionally-owned industrial submarkets. As cost-effective development land in the area has become incredibly scarce and construction costs continue to rise, rental rates for new construction within the Southwest submarket have climbed above $5.00 per square foot. With this dynamic at hand, investors have the opportunity to acquire Premier Distribution Center at an advantageous basis well below replacement cost, enabling the ability to aggressively compete for leases within the market.
Holliday GP Corp. (“HFF”), a North Carolina licensed real estate broker, is pleased to present the opportunity to acquire Premier Distribution Center, a 1,361,756 square foot multi-tenant industrial complex located in the heart of Charlotte’s highly-coveted Southwest submarket. Currently 48% leased, existing ownership has recently carried out an extensive capital program to modernize the facility, providing investors with a cash-flowing asset that features multiple opportunities to immediately create significant value, including the ability to develop up to 333,000 square feet of additional Class A product. Overall, Premier Distribution Center represents an incredibly rare opportunity to establish a 1.36 million square foot flag in the high barriers-to-entry Charlotte market.