SkyREM is pleased to announce the sale of two flex/industrial parks in Charlotte, NC. SkyREM sold Coffey Creek, an eight-building flex/office park consisting of 93,175 sq. ft. and Rubin Center, a two-building flex/office park consisting of 64,555 sq. ft.
“Due to strong market characteristics and demand for flex industrial properties, we believed it was the opportune time to exit these properties,” said Alex Dembitzer, Founder of SkyREM. “We remain committed to continued investments in Charlotte and the Carolinas as a whole. We intend to focus on larger industrial investments throughout the southeast”.
SkyREM purchased the properties over six years ago and substantially leased, renovated and modernized the assets during their ownership.
Rubin Center was nearly 100% occupied at the time of the sale and is located in the Central industrial submarket. The flex/office park is close to Charlotte’s vibrant Uptown and South End neighborhoods that have many retail and restaurant amenities. Recently, flex product in the submarket has seen an influx of tenants displaced from the South End due the redevelopment of older industrial/flex product.
Coffey Creek was also nearly 100% occupied at the time of the sale and is located in the Southwest industrial submarket, which is the largest and fastest growing submarket in the Charlotte area. The properties are in close proximity to the Charlotte Douglas International Airport and have direct access to I-77 and I-85. The office park features functional office layouts, attractive landscaping, rear loading docks, and prominent tenant signage.
Marc Civitillo, Managing Director at SkyREM commented, “This is pure capital recycling as we will continue to invest in the Southeast, albeit our focus will be heavily concentrated on larger warehouse and manufacturing related assets.”
SkyREM is actively acquiring and developing large industrial, manufacturing, and distribution properties in the United States.
SkyREM, with offices in Philadelphia and in New York City, is a privately funded and managed real estate company which owns and operates a large, diversified portfolio of properties in the United States. As a principal for its own account, Sky is actively investing in commercial real estate throughout the United States. To learn more and speak to the acquisitions team please contact Marc Civitillo at 212-888-6920 or visit our contact page.