SkyREM is pleased to announce the sale of Northridge Business Center, a best-in-class warehouse/office complex located in Charlotte, NC. The four building park totals 174,506 sq. ft. and was nearly 100% occupied at the time of the sale.
“Northridge Business Center is a highly regarded in-town warehouse/office asset and due to strong market characteristics and strong investor demand for flex industrial properties, we believed it was the opportune time to exit this property,” said Alex Dembitzer, Founder of SkyREM.
SkyREM extensively renovated and modernized the flex business park since purchasing the four building complex over six years ago. Northridge Business Center was nearly vacant when SkyREM purchased the property and executed an aggressive leasing strategy providing the new owner stable, predictable cash flow.
The property is strategically located within minutes of the Charlotte CBD, Charlotte Douglas International Airport, and has immediate access to Interstates 77, 85 and 485.
Marc Civitillo, Managing Director at SkyREM commented, “The sale of Northridge Business Center, combined with three other 2020 year-end commercial property sales, positions SkyREM to aggressively redeploy capital to acquire and develop larger warehouse and manufacturing related assets.”
You can read more about this sale on the Charlotte Business Journal.