Net Leased North Carolina Industrial Property Sold

The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant United Refrigeration located at 281 Executive Park Drive Northeast in Concord, North Carolina for $3,000,000.

Situated along Concord Lake Road, the 13,753 square-foot building is strategically located with a daily traffic flow of 18,000 vehicles. Furthermore, the property is adjacent to Interstate 85, a major thoroughfare connecting Charlotte to Greensboro, with a substantial traffic volume of 76,000 vehicles daily. Neighboring industrial tenants include Airgas, Excalibur Wheels, BMS CAT, and Ike’s Construction. The area also boasts a mix of vibrant retail and medical centers, including Carolina Mall, Northlite Center, Atrium Health Cabarrus (457-Bed), and CloverLeaf Plaza. Noteworthy tenants, such as Walmart, Sam’s Club, Lowe’s, and The Home Depot contribute to the area’s commercial appeal. The neighboring communities consist of over 104,000 residents within a five-mile radius, with an average household income exceeding $84,800.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a regional real estate investment partnership and the buyer was a real estate investor based in Florida.

With over 70 years of experience, United Refrigeration Inc. has evolved into one of the foremost distributors of refrigeration, air conditioning, and heating parts and equipment in North America.

“The tenant has been in business for over years which embraced the buyer’s confidence” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman of The Boulder Group, added, “Single tenant industrial assets in emerging markets are well sought after investments by the private market.”

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