Edgewater Ventures, Stockbridge Capital partner to buy large Gastonia industrial building for $44.3M
// CHARLOTTE Business Journal
CHARLOTTE– A pair of groups active in the Charlotte region's commercial real estate market have partnered to acquire a large asset in Gaston County.
Edgewater Ventures partnered with Stockbridge Capital Group to acquire a 541,609-square-foot industrial building at 1551 Mount Olive Church Road in Gastonia. The joint venture paid $44.3 million for the asset, according to Gaston County real estate records. The sale closed last week. The building is fully leased to Mann + Hummel Filtration Technology US as a distribution center, including for the company's Wix Filters brand.
The building was constructed in several phases between 1972 and 1999, before being significantly renovated in 2019. It sits on 39 acres and is near Exit 14 of Interstate 85.
JLL represented the seller of the building, Citimark Gastonia LLC, in the deal with Edgewater and Stockbridge.
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