Equus Capital Gets $33M for Charlotte-Area Asset

Carolina 85 Logistics Center. Image courtesy of Equus Capital Partners Ltd.

Stoltz Real Estate Partners has acquired Carolina 85 Logistics Center, a fully leased 300,468-square-foot distribution center in Kings Mountain, N.C. Equus Capital Partners Ltd. sold the property for $32.9 million. CBRE represented Equus in the building’s sale, while Cushman & Wakefield worked on securing tenants.

Located at 330 Woodlake Parkway, near the intersection of Woodlake Parkway and Canterbury Road, the property is close to Interstate 85. Charlotte Douglas International Airport and the Norfolk Southern Intermodal hub area are also nearby.

Completed in 2022, Carolina 85 Logistics Center is 100 percent leased to Ferguson Plumbing and Utz Quality Foods. The building features 32-foot clear heights, is located on 23.7 acres and includes 40 dock doors and 55 trailer parking spaces. Additionally, the building includes energy-efficient features such as a heat load reducing TPO white membrane roof and LED high-bay lighting.

Carolina 85 Logistics Center is another example of Charlotte’s trend toward larger industrial buildings in a fast-growing market. According to a recent CommercialEdge report, the metro had more than 16 million square feet of industrial stock under construction as of May, which represented a sizeable 5.4 percent of its current stock. CCC 85, a 290-acre commercial warehouse park with five buildings planned, is another mid- to bulk-size industrial space currently underway along the Interstate 85 corridor.

CBRE Vice Chairmen Frank Fallon, Jose Lobon, Trey Barry and Mike Hines handled the transaction for the seller.