Location: Charlotte, NC
Size: 30,051 sf
Barringer is a six-asset, single-story flex portfolio totaling 30,051sf located in the Charlotte market. Situated within two submarkets that both have sub-10% vacancy rates, the buildings have infill locations and offer proximity to I-77, I-485, and I-85, which provide access to all parts of Charlotte, including Uptown, SouthEnd, and the airport.
Flex/light industrial product is becoming increasingly rare in these areas, as developers are focused on the construction of bulk distribution and warehouse product, or the redevelopment of existing infill flex sites to multifamily and other uses.
As there is limited new flex product being built, the market’s diminishing supply creates a solid base of demand, as well as the opportunity to increase velocity and mark-to-market in-place rents. Acquiring this portfolio establishes our presence in Charlotte as a flex/industrial owner and can serve as the jumping off point for aggregating a larger portfolio across the market.