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.
- 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.