10301 Monroe Road in Matthews, North Carolina — Courtesy: Avison Young
By Joshua Burd
The Silverman Group has acquired a nearly 355,000-square-foot industrial building outside Charlotte, North Carolina, brokers with Avison Young announced Thursday.
The real estate services firm represented the seller, Dollar Tree Inc., in the transaction at 10301 Monroe Road in Matthews, North Carolina. Silverman, which is based in Basking Ridge, paid an undisclosed sum for the 354,518-square-foot property.
“We were engaged by Dollar Tree to sell the former Family Dollar headquarters, which had become a surplus asset due to the acquisition of Family Dollar by the Dollar Tree organization,” said Avison Young Principal Jeff Heller, the firm’s managing director in New Jersey. “Charlotte is an extremely active market, and the property received a great amount of interest once we began marketing it. We successfully sold the property directly to the buyer in a short period of time.”
Heller completed the deal alongside AY Principal and Managing Director Chris Skibinski of the firm’s Charlotte office.
“This is an exceptional industrial location suited for light manufacturing and warehousing with tactical last mile logistics,” Skibinski said. “Although infill industrial acquisitions in Charlotte are a rarity, the industrial sector continues to be bolstered by the ongoing upsurge of e-commerce.”
Silverman has since branded the property as the Eastside Logistics Center, noting that it’s geared toward last-mile distribution, light manufacturing and other uses.
“With development costs and industrial land prices on the rise in the greater Charlotte industrial market, we see great opportunities with repurposing existing second-generational assets that can be acquired, improved and brought to the marketplace to rival any brand new industrial building,” said Blake Silverman, president of The Silverman Group. “This particular asset’s infill location is irreplaceable. Our company continues to remain bullish on the industrial sector in the Southeast with a focus on Charlotte.”
