Feb
19

DTZ Sells Charlotte Industrial Buildings

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wilkinsonDTZ, a global leader in commercial real estate services, announced today that Quinn Management has sold 2198 and 2130 Wilkinson Boulevard to Titan Electric Company Inc. Charlie Ripple from DTZ’s Charlotte Industrial brokerage team represented the seller.

Titan Electric purchased 2198 Wilkinson in order to expand its current Charlotte location and will occupy the building, which totals 25,095 square feet. The adjacent building, 2130 Wilkinson, a 5,032 SF industrial warehouse is currently occupied by Fastenal, which will continue to occupy the building. Andy Burch with Ford Realty Company represented Titan as the buyer’s agent.

The Charlotte industrial market closed 2014 in strong form, with net absorption totaling 2.2 million square feet, which is nearly 1 million square feet about historical averages. With industrial rents continuing to trend upward near an average of $4.50 per square foot (NNN), the Charlotte market should continue to see additional transactions of this nature.

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