Industrial warehouse with outdoor storage component trades in Charlotte
JLL Capital Markets arranges the sale of 1701 Westinghouse Blvd., located in Charlotte’s premier Southwest submarket
CHARLOTTE, May 24, 2023 – JLL Capital Markets announced today that it has arranged the sale of 1701 Westinghouse Blvd., a 97,100-square-foot industrial facility featuring an outdoor storage component in Charlotte, North Carolina.
JLL represented the seller, Selwyn Property Group, and procured the buyer, Granite Canyon Partners.
The property sits on a 15.37-acre parcel along Westinghouse Blvd. and contains over three acres of leasable, outdoor storage in addition to the existing building footprint.
1701 Westinghouse Blvd. is situated in the heart of Charlotte’s Southwest submarket. It is positioned near the I-485 and I-77 interchange, providing connectivity throughout the entire MSA. It is also conveniently located 10 miles from the Charlotte Douglas International Airport, one of the country’s busiest airports.
The Charlotte industrial market is one of the premier industrial markets in the Southeast, offering excellent regional accessibility, a skilled workforce and a low cost of operation. Charlotte’s inventory is comprised of over 260.4 million square feet of warehouse space.
The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Director Pete Pittroff, Directors Dave Andrews and Josh McArdle and Associate Michael Scarnato.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Granite Canyon Partners
Granite Canyon Partners (GCP) is managed by two experienced commercial real estate investment professionals, Jay Klug and Paul Kang. Based in Washington, D.C. (HQ) with a satellite office in Durham, N.C., GCP is focused on acquiring retail, industrial/flex, and mixed-use properties across the country with a focus on value-add and opportunistic transactions in the $5-$50M total valuation range. GCP is focused on building a portfolio of durable cash flow with downside protection while delivering exceptional value to our investors.