Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Year Built 2005
Building Area
Occupancy 87.0 %

Property Description

Oates Crossing features attractive glass lines, fullyconditioned space, LED lighting and a total of 473 employee parking spaces (2.01/1,000 portfolio ratio). The park is ideally positioned along I-77 and enjoys unmatched regional connectivity via seamless access to a network of major transportation thoroughfares such as I-485, I-40, I-81 and I-85 – the industrial backbone of the Southeast. Additionally, the park is located just miles from Lake Norman and the area’s significant concentration of executive housing where employees have access to a live-work-play balance that is unique to the Mooresville-Lake Norman area. Oates Crossing is perfectly positioned to benefit from the rapid northward expansion, immense population growth (Mooresville 75.9% cumulative population growth since 2000), limited new supply and strong tenant demand which has increased rental rates in the submarket by 21.2% since the beginning of 2017.

Investment Highlights

  • Jones Lang LaSalle Americas, Inc. (“JLL”) has been
  • retained as the exclusive sales representative for Oates
  • Crossing – a 235,400 square foot, four (4) building Class A
  • office-warehouse portfolio strategically located along I-77
  • in the flourishing Charlotte MSA. The park is currently 87%
  • occupied with nearly seven (7) years of weighted average
  • lease term which provides investors with the opportunity
  • to enjoy stable cash flows and limited near term rollover
  • exposure. The park is leased to credit-rated companies
  • such as 3M (S&P: AA-), Mitsubishi Materials (S&P: A) and
  • PowerSecure (S&P: A-) among many other tenants who
  • have made significant capital investments into their space.
  • Furthermore, in-place rents are up to 12% below market in
  • some suites and the existing vacancy is recently delivered,
  • late 2018-vintage space which affords investors with an
  • immediate value-add opportunity.
Patrick Nally
Patrick Nally
Senior Director, Capital Markets
License details
NC-282053
Hunter Barron
Hunter Barron
Senior Director, Capital Markets
License details
NC-259804 SC-96951

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