{"id":1004263316,"date":"2018-09-07T00:19:43","date_gmt":"2018-09-07T08:19:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004263316"},"modified":"2022-12-08T13:08:37","modified_gmt":"2022-12-08T21:08:37","slug":"exeter-property-group-buys-charlotte-mixed-use","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/exeter-property-group-buys-charlotte-mixed-use\/","title":{"rendered":"Exeter Property Group Buys Charlotte Mixed-Use"},"content":{"rendered":"<p>By Timea Papp<\/p>\n<div id=\"attachment_1004263319\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/South-Point.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004263319\" data-attachment-id=\"1004263319\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/exeter-property-group-buys-charlotte-mixed-use\/south-point\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/South-Point.jpg\" data-orig-size=\"3200,2400\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;5.6&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;FC6520&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1528156800&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;15&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.003125&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"South Point\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;South Point&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/South-Point.jpg?w=1024\" class=\"wp-image-1004263319 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/South-Point.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/South-Point.jpg 3200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/South-Point.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/South-Point.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/South-Point.jpg?resize=1024,768 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/South-Point.jpg?resize=1536,1152 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/South-Point.jpg?resize=2048,1536 2048w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/South-Point.jpg?resize=150,113 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/South-Point.jpg?resize=696,522 696w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/South-Point.jpg?resize=1068,801 1068w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/South-Point.jpg?resize=1920,1440 1920w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/South-Point.jpg?resize=560,420 560w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/South-Point.jpg?resize=80,60 80w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/South-Point.jpg?resize=265,198 265w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004263319\" class=\"wp-caption-text\">South Point<\/p><\/div>\n<p>Exeter Property Group has <a href=\"https:\/\/www.commercialsearch.com\/news\/exeter-picks-up-148m-industrial-portfolio\/\">completed another North Carolina acquisition<\/a>. The company purchased South Point, a 72,850-square-foot warehouse and office park in the Southwest submarket of Charlotte. LNR Partners sold the Class A property for $7.5 million. A CBRE team represented the seller.<\/p>\n<p>Located at 13509 South Point Blvd., the mixed-use asset came online in 1997 and was 87.9 percent leased at the time of sale. South Point\u2019s largest tenant, Intermec Technologies, leases roughly 43,000 square feet and has occupied its space since the late 1990s. Another notable tenant is Powertec Industrial Motors, occupying almost 22,000 square feet.<\/p>\n<p>South Point features dock high-loading doors, functional office layouts and ample parking. The property is within a five-minute drive of Interstate 485 and less than 2 miles from Interstate 77, while Charlotte Douglas International Airport is only 15 minutes away.<\/p>\n<h2>Coveted submarket<\/h2>\n<p>CBRE Executive Vice President Patrick Gildea, Senior Vice Presidents Bryan Crutcher and Anne Johnson, along with Senior Associate Matt Smith, worked on behalf of LNR Partners in the deal. According to a CBRE report, Charlotte\u2019s Southwest submarket is the metro\u2019s largest industrial market, with an inventory of more than 76.8 million square feet and an overall vacancy rate of 5.5 percent. More than 56 percent of Charlotte\u2019s 2018 absorption activity took place within the submarket.<\/p>\n<p><em>\u201cExeter\u2019s continued investment in Charlotte speaks to the strength of the market\u2019s fundamentals today and the potential for growth in the future. The limited trading of industrial product in the Charlotte market has led to larger institutional investors pursuing one-off opportunities that would traditionally be below their target size,\u201d<\/em> Smith explained in a prepared statement.&nbsp;<\/p>\n<p><em>Image courtesy of CBRE<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CBRE brokered the disposition of South Point, an industrial and office property that was approximately 88 percent leased at the time of sale.<\/p>\n","protected":false},"author":240,"featured_media":1004263319,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1582,21743,21783,21752,21742],"tags":[32789,35364,33296,37867],"class_list":["post-1004263316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charlotte","category-deals","category-investment","category-mixed-use","category-latest","tag-cbre","tag-exeter-property-group","tag-lnr-partners-llc","tag-patrick-gildea"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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