Stream Realty Partners sold three buildings from its fully leased Empire West Business Park to a Missouri-based firm.
The Pineville Distribution Center will be a 194K SF Class-A industrial facility some 15 miles south of Charlotte.
Private buyers accounted for 63.8% of all industrial acquisitions in 2025.
Houston had the most industrial leasing activity since 2023 last quarter, according to JLL.
Industrial conversions have grown in frequency due to their ability to target infill locations throughout the metro and the ease with which they can be done.
The move comes after activist investor Elliott Investment Management took an undisclosed stake in Rexford in August.
Industrial investment volume is on pace to finish with its third-strongest year in the sector's history as a flurry of smaller deals fuels activity.
Makarora Management and Ares Alternative Credit's deal is nearly twice Sixth Street Partners’ unsolicited takeover proposal in August.
Several warehouse projects totaling more than 1M SF broke ground across the region this year, with northeast Pennsylvania being a standout submarket.
Analysts expect Amazon to increase its U.S. warehouse footprint by 51M SF this year.
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