CIP REAL ESTATE ACQUIRES INTERSTATE BUSINESS PARK IN CHARLOTTE

by admin

CHARLOTTE, N.C. — Irvine, Calif.-based CIP Real Estate and Baltimore-based Alex Brown Realty have acquired Interstate Business Park for $12.3 million in Charlotte. Located on Stuart Andrew Boulevard at the intersection of Clanton Road and Interstate 77, the 162,763-square-foot property consists of nine single-story office/flex/warehouse buildings. Norfolk, Va.-based Charlotte Park Associates, represented by Ryan Clutter of CB Richard Ellis’ Charlotte office, sold the property. CIP Real Estate will rebrand and rename the park Charlotte Commerce Center.

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