A building near Carowinds just sold for almost $50 million. Here’s what we know
A distribution center near Carowinds recently sold for almost $50 million.
Stoltz Real Estate Partners bought Carowinds Distribution Center from Hartz Mountain Industries for $48.5 million. The building is an almost 560,000-square-foot construction at 355 Crestmont Drive in Fort Mill.
The industrial building off I-77 is a Class A distribution center with 32 dock doors and on-site trailer parking. The building is occupied by tenants Legrand and Sanmina.
“The industrial capital markets in Charlotte are more competitive than ever, with a wide gap between supply of available product and the wall of capital seeking industrial investment in the region,” said Patrick Gildea, vice chairman with CBRE, which represented the seller.
County land records show the July 9 sale involves more than 47 acres. The site was built in 1998. It was sold for almost $16 million in late 2011.
The big sale shows a trend in the Carowinds area.
Last month the 104,000-square-food Stateline Logistics Center at 145 Steele Pointe Drive sold for $13.3 million. It was built last year in Lakemont Business Park. STIWA US Inc. and 3D Digital Solutions are located there.
“This was a successful and seamless closing for Crescent Communities, in a market where we are continuing to grow,” Crescent managing director of industrial Bryan Blythe said in a release following the sale.
Also last month, door maker Masonite International Corporation announced plans within the 370,000-square-foot Lakemont 77 site at 160 Steele Pointe Drive. The company will create more than 220 jobs.
“The new plant’s location is ideally suited from a logistics standpoint to service some of our strongest markets,” company president and CEO Howard Heckes said in a release.
Like the Carowinds theme park itself, Carowinds Boulevard has a prime business location along the state line between Fort Mill and Charlotte. It’s directly off I-77 and an exit from I-485, which offers access to I-85. The sites also are a quick shot to Charlotte Douglas International Airport.
