Avison Young arranges land sale in Charlotte’s Southwest Submarket

Avison Young arranges land sale in Charlotte’s Southwest Submarket June 24, 2024

Two parcels totaling 41-acres sells for $11.75M

Charlotte, NC – Avison Young, global real estate advisory firm has successfully arranged the sale of two parcels totaling 41-acres located at 1900 Continental Boulevard in Charlotte, North Carolina at the cost of $11.75 million.

The Avison Young Investment Sales and Advisory team, led by Chris Skibinski, Chris Loyd, and Erik Foster, managed the sale on behalf of a joint venture of Somerset Properties and Waterfall Asset Management.

The primary parcel consisting of 25.93 acres will be developed by Constellation Real Estate Partners for its first industrial development in Charlotte.

The site will be home to Constellation 485 South, a 374,220-square-foot industrial building. Constellation will break ground on the project next month and plans to deliver the building in August 2025. The property is situated within the supply-constrained Stateline submarket.

“The parcel sale coincided with our sale of the adjacent 1.4 msf industrial building which capped off a successful harvesting of Somerset and Waterfall’s investment strategy”, said Skibinski.

About Avison Young

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2024 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 13 consecutive years.

About Somerset Properties

Somerset Properties is a full-service real estate investment and operating company with a 25+year track record of creating value for investors through acquisitions, development, property management, leasing, marketing, and capital markets expertise. Since inception, Somerset Properties has owned and managed nearly 15 million square feet. The firm is managed by a team of 40 real estate professionals under the direction of Anthony Brady and Mark White, career real estate specialists with over 30 years of experience in all facets of commercial real estate investing. To learn more, visit somprop.com.


Link to property photo: 1900 Continental Boulevard, Charlotte, NC

Media Contacts:

Sandra Hill, Senior Manager, Media Relations – United States, Avison Young: +1 281.853.5548