The 400,000+ square-foot industrial building was purchased by a new-to-market institutional investor

Charlotte, NC – Avison Young, a global real estate advisory firm, has successfully arranged the sale of a 402,390-square-foot (sf) industrial building located at 7040 Northwinds Drive NW in Concord, North Carolina to Stonelake Capital Partners, a Texas-based real estate investment firm. An Amazon fulfillment center is the sole tenant at the property.

Avison Young Principals Chris Skibinski, Henry Lobb and Vice President Abby Rights managed the transaction between Stonelake and the seller, SL Industrial Partners, a member of the Silverman Group family of companies. The transaction marks Stonelake’s entry into the Charlotte market amidst strong industrial leasing activity. Stonelake’s acquisition was led by Will Jenkins, Marc Hedrick and Jack Harvey.

“This is a well-positioned facility with a name brand strong credit tenant in place, making it attractive for a new-to-market investor,” said Skibinski. “We’re pleased to leverage our extensive experience in the Charlotte market to represent institutional investors like Stonelake in their first Charlotte industrial acquisition.”

“This asset was our first speculative industrial development project and was the catalyst for our continued growth in the greater Charlotte market for the past decade” said Blake Silverman, President of Silverman Group.

The property is located along the bustling I-85 corridor with easy access to Charlotte’s urban core and suburbs, which continues to experience an influx of new residents.