Property info.
Property type:
Track-Record
1700 Parker Drive,
Charlotte, NC 28208
152529 Square Feet
Acquired: June 2001
Disposition Date: November 2013
About
Sourced from a strategic relationship, this acquisition represented an opportunity to acquire a distressed asset in a strong distribution market, expanding Oro’s geographic reach. Oro managers believed the property would provide benefit in a short-term from a local market rebound and upgrades for modern warehouse uses. After refurbishing the asset and aggressively marketing it, Oro leased 1700 Parker Drive to a variety of reliable tenants. Refinancing at the end of 2002 returned 85% of original capital to investors and ultimate sale of the property in 2013 provided an overall strong return.
