Monday, March 10, 2014

Four Southwest Charlotte commercial buildings sold

Four southwest Charlotte commercial buildings have sold for $11.1 million to Virginia-based Medalist Properties. The buildings, on Arrowridge Boulevard, represent about 200,000 square feet total, according to Trinity Partners, which represented the buildings’ owners, a Florida-based investor group.

Trinity Partners leased and managed the portfolio for the past eight years, and Medalist Properties has retained Trinity to continue leasing the buildings. Medalist has in-house property management services.

Trinity said the flex buildings – 8107, 8227, 8301, and 8041 Arrowridge Boulevard – benefit from a strong tenancy, including Hobart Corporation, Bonsal American, Sears Home Improvement, CentiMark Corporation, and Miller Electric Company. The properties are 83 percent occupied, outperforming the market’s 81 percent occupancy rate.

Trinity Partners' Dunn Mileham represented the buildings' owners.