Denholtz Properties, a leading real estate development and investment company, announces the acquisition of a 53,811-square-foot industrial building at 9201 Forsyth Park Drive in Charlotte, N.C. The transaction is the first acquisition for Denholtz Properties’ recently launched joint venture which plans to acquire and develop multi-tenant industrial properties with a total value of over $1 billion.
9201 Forsyth Park Drive is strategically positioned in the Charlotte Southwest area, the largest industrial submarket in Charlotte. The property boasts superb access to major transportation arteries including SR-Westinghouse Boulevard and Interstates 77 and 485 as well as Interstate 85 – the industrial backbone of the Southeast that connects Charlotte to Atlanta and Raleigh-Durham. The single-story building also features full-building air-conditioning, heavy power, seven loading docks, four grade-level rollup doors and 18’ clear ceilings. Currently, the building is fully occupied by three tenants spanning a diverse mix of industries.
“With a strong location in one of the nation’s hottest industrial markets, endless flexibility and a quality tenant base, 9201 Forsyth Park Drive fits the asset type we sought to acquire with the launch of our joint venture earlier this year,” said Stephen Cassidy, President of Denholtz Properties. “We are excited to expand our industrial portfolio in the Charlotte market and look forward to adding similar assets in the months to come.”
The Charlotte MSA continues to be among the nation’s premier real estate markets seeing a 50.8 percent increase in population since 2000 and a projected four percent growth rate over the next three years. In addition to robust population growth, the regional economy is characterized by a talented labor pool, a strong manufacturing and distribution market and a rapidly emerging presence in the energy industry. It is also currently home to several large corporate headquarters for companies such as Bank of America, Lowe’s, Honeywell, Duke Energy, Nucor, Truist, Sonic Automotive and Brighthouse Financial.
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