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29

CBRE Closes Sale of Charlotte Business Park

By Tony Seruga

The new owner plans to invest in multiple upgrades to the five-building property, including rebranding it as Oakhurst Commerce Centre.

CBRE brokered the sale of Monroe Business Park, a five-building mixed-use complex in the Oakhurst neighborhood of southeast Charlotte, N.C. Nova Capital Partners sold the property in a $6.8 million deal to an investment group affiliated with Charlotte-based Waters Inc. According to public records, South State Bank provided $4.6 million in acquisition financing to facilitate the transaction.

The new owner plans to upgrade the property and rebrand it as Oakhurst Commerce Centre. Additionally, Waters Inc. will provide property management and leasing services. Located at 4410, 4412, 4414, 4416 and 4420 Monroe Road, the business park encompasses five buildings completed between 1984 and 1986. Monroe Business Park features a mix of office/flex and warehouse space with a tenant roster that includes PPG Paints, Iron Tribe Fitness and Common Market’s newest location…

CBRE Closes Sale of Charlotte Business Park

Categories : Commercial Real Estate

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