LM Pays $48M for Mooresville Warehouses
LM Real Estate Partners acquired Oates Crossing, a four-building industrial park in Mooresville, for $48 million. The purchase included 237,734 square feet of existing industrial space and around 8 acres for future development. Atlanta Property Group was the seller.
The park is 99% leased to 15 different tenants. Oates Crossing is at 105 Corporate Center Drive, near Exit 36 off Interstate 77.
JLL’s Dave Andrews, Pete Pittroff, and Michael Scarnato represented the seller in the deal.
The Charlotte Business Journal reports that last year, LM acquired Premier Distribution Center, a 1.4 million-square-foot industrial space in southwest Charlotte, for $97 million. Premier Distribution Center is a former Continental Tire plant site that was repurposed after the company moved its operations to South Carolina in 2014. The sale was one of the highest-profile Charlotte industrial deals of the last several years.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout