Leon Industrial, a Leon Capital Group subsidiary, has paid $11.5 million for a 120,000-square-foot industrial property in Rock Hill, S.C. Graham Capital bought the asset, whereas Avison Younger brokered the transaction on its behalf and also will present leasing providers for the brand new proprietor.
Leon Industrial will implement a considerable enchancment and renovation program on the Class B facility to draw tenants in want of small bay house.
Measuring almost 8 acres, the property contains one grade-level door, 10 dock-high doorways and two exit ramps—with a 3rd one underneath building. Leon Industrial’s upcoming adjustments will embody an upgraded exterior, lighting and parking house enhancements.
The 1974-built facility is at 2690 Commerce Drive, close to Interstate 77. Charlotte is 23 miles from the property whereas Charlotte Douglas Worldwide Airport is inside 25 miles.
That is the Texas-based purchaser’s first acquisition in metro Charlotte, N.C. Leon seeks to additional develop within the Southeast area and has not too long ago established its Charlotte workplace, in accordance with Charlotte Enterprise Journal. The asset is absolutely vacant, the identical supply exhibits. It final modified palms for $10 million in 2022, CommercialEdge info exhibits.
Avison Younger Principals Chris Loyd and Tom Tropeano, along with Vice President Ryan Kendall labored on behalf of the vendor and can present leasing providers on behalf of the brand new proprietor.
Charlotte’s reasonably priced industrial product
Industrial gross sales quantity in Charlotte reached $1.5 billion in 2024, a latest CommercialEdge report exhibits. Belongings modified palms at a median of $89 per sq. foot—the bottom amongst Southern markets. The nationwide common stood at $129 per sq. foot. As of January, Charlotte’s 7.4 p.c emptiness fee was one of many lowest within the area, surpassed solely by Houston (6.5 p.c) and Nashville, Tenn. (6.8 p.c). The nationwide determine stood at 8 p.c.
A latest notable acquisition for the metro was Stonelake Capital’s $13.5 million deal. The corporate picked up a 123,140-square-foot, absolutely leased facility from Steins Fiber. Avison Younger additionally brokered this deal on behalf of the client.
