RealOp Investments acquires Oates Crossing, a 235K SF Class A office-warehouse portfolio in Charlotte, NC for $31.75M
August 4, 2020
RealOp Investments has expanded its Southeastern footprint with the acquisition of a four building, 234,400-square-foot office-warehouse portfolio located in the flourishing Charlotte MSA.
Strategically positioned along I-77, Oates Crossing is situated to benefit from the rapid northward expansion, immense population growth, limited new supply and strong tenant demand in Charlotte’s premier growth corridor. The portfolio is located at 105 & 115 Corporate Center Drive and 120 & 128 Talbert Road in Mooresville, N.C.
JLL’s Patrick Nally, Hunter Barron and Pete Pittroff represented the seller in the transaction. Stream Realty’s Jason Schnittger will lease the buildings on behalf of RealOp.
“We are pleased to continue our growth in the Charlotte market and appreciate JLL’s efforts throughout the transaction. This was a unique opportunity for us to acquire a significant portfolio in an amenity-rich and supply-constrained location. The acquisition aligned well within our investment criteria due to the product type, credit tenancy and scale. Industrial is red hot and has remained resilient throughout the COVID-19 pandemic. We firmly believe that it will continue its positive trajectory,” said Julian Nexsen, RealOp Investments’ Vice President of Acquisitions.
Headquartered in Greenville, S.C., RealOp Investments has rapidly expanded its footprint in the past five years managing in excess of 50 properties and more than five million square feet of space in Georgia, Florida, Tennessee and the Carolinas. Oates Crossing marks the third investment for RealOp in the Charlotte market over past two years including two office buildings on Arrowpoint Boulevard (Union Point and Summit Point), and an industrial building at 11424 Wilmar Boulevard.
“We plan to continue to grow our asset base both in Charlotte and across the Southeast with a focus on value-add acquisitions in strong growth markets,” Nexsen said.
About RealOp Investments
South Carolina-based RealOp Investments is a commercial real estate investment company founded in 2009 specializing in value-add and opportunistic acquisitions. With deep roots in the Southeast, our investment strategy spans all commercial asset classes and is based on a relationship-driven pursuit of value; not only in identifying off market opportunities, but in creating value through innovative capitalization structures, management expertise and the execution of unique strategies tailored to each asset. The firm was named the 2019 Greenville Chamber Small Business of the Year, and one of the Top Ten Fastest Growing Companies in the state of South Carolina for 2018. Learn more at www.realopinvestments.com.
