RealOp continues to grow Southeastern portfolio, acquires Charlotte industrial building for $7.3M

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Wilmar Industrial Building is a 300,000-square-foot vacant manufacturing facility located at 11524 Wilmar Blvd., Charlotte, N.C. | photo provided

Greenville-based RealOp Investments has purchased Wilmar Industrial Building, a 300,000-square-foot vacant manufacturing facility located at 11524 Wilmar Blvd., Charlotte, N.C., for $7.3 million.

Key features that led to the property’s acquisition by the real estate private equity firm were the location in Charlotte’s premier industrial State Line submarket, which is recognized as the most desirable and largest submarket in the metropolitan statistical area (MSA); an average rent growth of 5.2 percent over the past 12 months; immediate accessibility to I-77, I-485, and I-85; and the opportunity to update and reposition the asset in the marketplace.

“Having been previously occupied by an owner-occupant, we feel this building will be a meaningful addition to the limited supply of industrial facilities in the market, especially with its broad range of potential uses including warehouse and light manufacturing,” says Reggie Bell, CEO of RealOp Investments. “We look forward to working with our brokerage team, JLL, as well as local and state economic development teams to identify the right tenant for the property.”

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