Minneapolis Investor Moves Into Charlotte with South Point Business Center Buy
Investors nationwide have taken an interest in Charlotte, Founders Properties president Wade Lau tells us. The Minneapolis-based Wade ought to know; his company, on behalf of Founders Income Fund III, just acquired the 123k SF South Point Business Center.
Charlotte's a strong location for investment due to several factors, including steady job growth and low industrial vacancy rates with high absorption, Wade says. "The property was also appealing as it broadens our geographic diversity, providing another dot on our map of investments.”
Located at 13501 South Ridge Dr in Charlotte, South Point is 100% leased to Specialty Manufacturing Inc, a manufacturer of safety equipment and related products to the transportation industry. The seller was Dalfen America Corp, repped by Cushman & Wakefield/Thalhimer's Chris Norvell. Founders Properties has a portfolio of about 70 institutional-grade properties nationwide.