Exeter Snags $49M Charlotte-Area Industrial Campus
- Aug 03, 2018
Exeter Property Group has acquired RiverOaks Corporate Center, a Class A industrial park and three additional land sites in the Charlotte submarket of Concord, N.C. HFF represented the seller, Beacon Partners, in the $49.2 million deal. With this acquisition, Exeter Property Group now owns more than 8 million square feet in the Carolinas and 3 million square feet in the Charlotte area.
The property comprises two buildings located at 800 Derita Road and 8475 Automation Drive, totaling 453,206 square feet. The three development sites are located at 700 Derita and 8400 and 8500 Automation, adding an additional 892,997 square feet to the campus. The existing buildings were constructed in 2016 and include 24- to 32-foot clear heights. The 119-acre site has the potential to reach a total of 1.4 million square feet.
RiverOaks Corporate Center is located adjacent to Concord Regional Airport and 23 miles from Charlotte Douglas International Airport. The campus is within close proximity to interstates 85 and 485, providing convenient access to major hubs between Atlanta and Washington, D.C.
The HFF team of Senior Managing Director Chris Norvell and Director Patrick Nally, worked along with JLL’s Managing Director Pete Pittroff representing the seller.
In June, Exeter acquired a 130,250-square-foot industrial property in Kennesaw, Ga., for $9 million. The asset was purchased from Suzuki Motor Corp.
Image courtesy of HFF