Development

Shopton Ridge Business Park sells for $33 million

Shopton Ridge Business Park
Shopton Ridge Business Park

A business park in southwest Charlotte has sold for just over $33 million to a Florida-based buyer, according to brokerage CBRE and real estate records.

Shopton Ridge Business Park, at Shopton Road near Sandy Porter Road, consists of four industrial buildings totaling 422,400 square feet. Tenants include Cardinal Health, Linde Gas, Pinpoint Warehousing and ScentAir.

Aventura, Fla.-based Adler Kawa Real Estate Advisors closed the deal last week, purchasing the business park from Trinity Capital Advisors and PCCP, LLC. It’s not the Florida firm’s first foray into the Charlotte market: Adler Kawa also bought Carmel Executive Park at Carmel and Pineville-Matthews roads in 2013.

“We were very pleased with the interest level from prospective buyers,” said Patrick Gildea, a senior vice president with CBRE who helped represent the sellers. “As the market has continued to improve, the buyer pool for this type of product has increased substantially.”

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Twitter: @ESPortillo

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