Overview
Trinity Partners, LLC is pleased to serve as exclusive advisor for the sale of 616 East Westinghouse, an eight tenant, 30,819-rentable-square-foot office/warehouse asset located in Charlotte’s State Line industrial submarket.
Strategically positioned along Westinghouse Boulevard, Charlotte’s premier industrial corridor, the Property provides near-instant access to I-77 and the I-485 loop serving the burgeoning residential and commercial areas in Southeast Charlotte and the greater MSA.
Currently 100% occupied, 616 East Westinghouse benefits from near-term cash flow stability; however, with a weighted average remaining lease term of 1.6 years, there is a compelling opportunity to leverage the Property’s accessible rent roll with exceptional market and submarket fundamentals.
Investment Highlights
Unrivaled Location with Strong Transportation Fundamentals
- Located within the State Line Submarket, Charlotte's Premier Infill Industrial Submarket
- Near instant access to I-77 and I-485
Dynamic Value-Add Profile Within Supply Constrained Market
- Recent Building Remeasurement - Additional 596 Square Feet of Unrealized Rentable Area
- 100% Occupied with WALT of 1.6 Years
- Wtd. Average In-Place Rates - $12.77 / SF - are 25% Below Most Recent Lease at $16.00 / SF
- Near 0% Submarket Vacancy Among Peer Group Properties with Spaces <5,000 Square Feet
- No Competitive Projects Under Construction within 10-Mile Radius of Property
Desirable Product Type With Diverse Suite Offering
- Average Suite Size of 2,802 Square Feet
- Mix of Dock High and Grade Level Loading
- Total Office Finish of 18%
- On-Site IOS - Suite Specific and Separately Fenced ±0.3 AC Pad
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