Avison Young announced that it closed a 354,518-square-foot crossdock property sale on 43.51 acres at 10301 Monroe Road in Matthews, NC to the Silverman Group out of Basking Ridge, NJ.
Avison Young Principal and Managing Director, Jeff Heller in Avison Young’s New Jersey office, and Principal and Managing Director Chris Skibinski of the firm’s Charlotte office, represented the seller, Dollar Tree Inc.
“We were engaged by Dollar Tree to sell the former Family Dollar headquarters, which had become a surplus asset due to the acquisition of Family Dollar by the Dollar Tree organization,” notes Heller. “Charlotte is an extremely active market, and the property received a great amount of interest once we began marketing it. We successfully sold the property directly to the buyer in a short period of time.”
Skibinski adds, “This is an exceptional industrial location suited for light manufacturing and warehousing with tactical last mile logistics. Although infill industrial acquisitions in Charlotte are a rarity, the industrial sector continues to be bolstered by the ongoing upsurge of e-commerce.”
The Eastside Logistics Center, as dubbed by The Silverman Group, is for last mile distribution, light manufacturing and other uses that will have direct impact to nearby household density areas.
“With development costs and industrial land prices on the rise in the greater Charlotte industrial market, we see great opportunities with repurposing existing second generational assets that can be acquired, improved and brought to the marketplace to rival any brand new industrial building,” said Blake Silverman, President of The Silverman Group. “This particular asset’s infill location is irreplaceable. Our company continues to remain bullish on the industrial sector in the southeast with a focus on Charlotte.“
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