Sale of phase I of Charlotte industrial park closes
JLL Capital Markets closed the sale of the fully leased Rock Hill Commerce Center
CHARLOTTE, March 01, 2023 – JLL Capital Markets announced it has closed the sale of Rock Hill Commerce Center Phase I, encompassing two fully leased industrial buildings totaling 792,081 square feet in the Charlotte, North Carolina MSA.
JLL represented the seller, Indianapolis-headquartered Strategic Capital Partners, in the sale to a MetLife Investment Management client.
Delivered in early 2023, Rock Hill Commerce Center is 100% leased to Power Technique North America, LLC one of the largest divisions of Swedish-based Atlas Copco AB, and Logistics Plus, a leading worldwide provider in the logistics industry. Building A consists of 294,092 square feet with rear-load configuration, while Building B is 497,989 square feet with a cross-dock configuration. The buildings are the initial phase in a two-phase, four-building 1,039,361-square-foot master-planned industrial park.
Rock Hill Commerce Center is proximate to Interstates 77 and 85, the Southeast’s main north/south and east/west transportation arteries, and the I-485 beltway loop, providing access to the entire Charlotte MSA. Additionally, the property is positioned less than 30 miles from the world-class distribution networks of the Norfolk Southern CLT Intermodal Terminal and the Charlotte Douglas International Airport, the 5th busiest airport in the world. Furthermore, according to JLL research, market fundamentals point to sustainable growth for the Charlotte industrial sector and the region’s diverse economy and industry makeup providing a hedge against global headwinds.
The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Senior Managing Directors Patrick Nally and Pete Pittroff, Director Dave Andrews and Associate Michael Scarnato.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Strategic Capital Partners
Strategic Capital Partners, LLC (SCP), headquartered in Indianapolis, Indiana, is a commercial real estate firm that develops, owns, operates and invests in properties strategically located in the top-tier submarkets of Charlotte, Cincinnati, Indianapolis, Nashville, Northern Virginia and Raleigh/Durham. SCP is the general partner in more than 15 million square feet of properties valued at $1.9 billion. While property types vary, SCP’s primary focus is industrial development. The SCP team is rich with industry experience in private equity, development, acquisitions, banking, property management and brokerage. For more information, please visit strategiccapitalpartners.com.