CBRE Arranges Sale of Fully Leased Light Industrial Facility in Charlotte’s Southwest Submarket

CBRE has facilitated the sale of a 35,542-square-foot, multi-tenant light distribution facility in Charlotte, North Carolina, to Accordia Realty.

CBRE’s Robert Hardaway, Matt Smith, Patrick Gildea, Anne Johnson, Bryan Crutcher, Alek Salfia, and Byran Fort represented the seller, The CF Company, in the transaction.

The property, located at 14301 South Lakes Drive and constructed in 1985, comprises of highly functional, light industrial space, lending itself to a variety of flex and distribution users. The rear-load facility features a glass exterior, 18-foot clear height, dock-high and drive-in loading positions, a deep truck court, and ample parking. The property was fully leased to three tenants at the time of sale.

"14301 South Lakes demonstrates the strong demand for well-located, highly functional product in today’s capital markets environment,” said Robert Hardaway, Associate Vice President with CBRE. “There is a diminishing supply dynamic occurring in shallow-bay, industrial product, and there are few new projects of this type either planned or under construction despite the significant scarcity."

Located within the South Point Business Park in Charlotte’s Southwest industrial submarket, the property offers convenient access to Interstate 77 and Interstate 485 via Carowinds Boulevard and South Tryon Street. Charlotte’s South End neighborhood and various retail destinations are within a 10-minute drive of the facility. Uptown Charlotte, the Charlotte Douglas International Airport, and the affluent Lake Wylie community are all within a 20-minute drive.

Charlotte’s Southwest submarket recorded 1,137,382 square feet of net absorption in the first three quarters of 2024, according to CBRE research. Its vacancy rate sits at 4.1%, below the overall market’s 8.2% vacancy rate.