It doesn't quite have the panache of multifamily, but well-located industrial in Charlotte's an up-and-coming property type, Akrea CEO Matthew Adler tells us. Recently Florida-based Akrea acquired the 422k SF Shopton Ridge Business Park, a light industrial property in a southwest Charlotte submarket. "We're out to acquire multi-tenant assets at a favorable cost basis in growing markets," he says.
Shopton Ridge is currently 90% occupied by PinPoint, Scent Air, Cardinal Health and Rent-A-Center, among others. The property dates from the mid-2000s, and has close access to Charlotte Douglas International Airport. Akrea's no stranger to Charlotte industrial, having acquired the Oak Hill Business Park in 2014.
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