Insite Properties Sells Southend Commons (4101-4321 Stuart Andrew Blvd.)
CHARLOTTE, NC- December 15, 2020 – Insite Properties is pleased to announce the sale of Southend Commons, a nine-building flex office/warehouse park located in the thriving Southend submarket. CCC JV Partners, LLC, a joint venture partnership managed by Insite Properties, sold the property for $23.5 million, or $140 per square foot. The 167,000 square foot park was 90% occupied upon sale. During its ownership, Insite Properties repositioned the property by completing a thorough capital improvement plan that included a new modern exterior paint scheme, complete asphalt replacement, new signage and branding, the installation of new common area covered seating areas, new exterior lighting, and landscaping improvements. The purchaser, SFI Real Estate Holdings, will retain Insite Properties as property manager and leasing agent for the property.
Insite Properties, based in Charlotte, NC, with offices in Charlotte, Charleston, SC. and Charlottesville, Va. is a full service commercial real estate firm specializing in the development, acquisition, ownership, management, leasing, and sales of professional and medical office properties in the Southeastern region of the United States. Insite Properties represents several investor clients for whom it serves in an investment brokerage capacity and acquires properties for its own portfolio, often in joint venture with an investor.
For more information on Insite Properties, please call 704.344.8086 or visit www.insiteprops.com.
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