KBS Sells four building, 496K-SF Charlotte Industrial Park to Link Logistics for $81.2M ($163psf)

KBS sold Crossroads Distribution Center to Link Logistics for nearly $81.2 million. The four-building, 496,723-square-foot park is 100% leased. The Charlotte Business Journal reports that 13 tenants occupy on average around 38,000 square feet at Crossroads Distribution Center, which is located at 11401 Granite Street near the state line. In May, 2024, KBS secured a $38 million loan to refinance the center. KBS acquired Crossroads Distribution Center in 2008 for $26 million.

KBS Realty Advisors
Luke Hamagiwa | SVP, Asset Management
Link Logistics (NYSE: PSB)
Glenn Wylie | Senior Managing Director, East Region

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