Leading Real Estate Investment Firm Acquires Prime Flex Industrial Asset in Charlotte, North Carolina

RED BANK, NJ AND CHARLOTTE, NC – SEPTEMBER 6, 2023 – Lucern Capital Partners, a prominent real estate investment firm headquartered in Red Bank, New Jersey, announces the acquisition of Crosslake Park, a flex industrial asset located at 131 Crosslake Park Drive in Mooresville, North Carolina.

This strategic investment marks another significant step in Lucern Capital Partners’ commitment to expand its portfolio with high-quality, income-generating properties across diverse markets. The newly acquired light industrial asset is strategically located in one of Charlotte’s most sought-after industrial zones, offering a prime location for businesses seeking modern and efficient operational spaces.

“We are thrilled to continue investing in the growth of the Charlotte MSA,” said Frank Forte, Managing Partner and Chief Investment Officer of Lucern Capital Partners. “Charlotte’s robust economy and stable industrial sector make it an ideal location for our next investment. This acquisition aligns perfectly with our mission to provide value to our investors while contributing positively to the communities in which we operate.”

The newly acquired property comprises 30 light industrial and retail spaces totaling 55,000 square feet across two main building structures. Crosslake Park is 100% occupied by a variety of desirable tenants and has the potential to convert unused land behind the buildings into light industrial outdoor storage, opening additional revenue streams. Its proximity to major transportation hubs, highways, and the city’s central business district makes it a prime destination for tenants seeking convenient access to markets and customers.

With a focus on sustainability and responsible property management, Lucern Capital Partners is committed to enhancing the asset’s operational efficiency while minimizing its environmental footprint. The firm has hired One Alliance to represent them on property management-related matters, and the property’s day-to-day operations, ensuring that tenants experience the highest level of service and support.

The acquisition of Crosslake Park follows on the heels of another industrial real estate transaction in the MSA, Charlotte Trade Center. The 49,000 SF asset on 4.34 acres was acquired by the firm earlier this year. Similar to Crosslake Park, this asset has a stable tenant base of small-bay users with diverse industry representation. The leases were paying below market rates and were strategically located close to I-85 and other important transportation thoroughfares.

Charlotte’s dynamic business environment, coupled with its growing population and diverse economy presents immense opportunities for Lucern Capital Partners to create value and deliver solid returns to its investors. This acquisition is a testament to the firm’s ability to identify promising investment opportunities and execute transactions that align with its long-term growth objectives.