CB Equities has sold Forest Park IV, a flex office building in Charlotte, for $11 million. The property, located at 600 Forest Point Circle within the Forest Park business park, totals 64,000 square feet. CB Equities acquired the building in 2023 for $9.2 million before executing a conversion to a flex office format. Greenleaf Capital Partners purchased the asset in the latest transaction.
According to the Charlotte Business Chronicle, CB Equities repositioned the property as a flex office asset prior to the sale. The building offers 16-foot clear heights, three dock-high doors and one drive-in door, combining office and light industrial-style functionality. On-site parking accommodates approximately 360 vehicles, supporting both tenant operations and employee access. Originally constructed in 1999, Forest Park IV is one of the assets within the broader Forest Park business park, which gives it a multi-tenant business park setting rather than a standalone office site.
Forest Park IV is reported to be 100% leased. Current tenants include Flexential, Tranzact and Preferred Electric Co. The full occupancy profile underscores the building’s stabilized cash-flow position at the time of sale. The article does not disclose lease terms, expiration schedules or rental rates for the tenants, but the tenancy demonstrates diverse user demand for flex office and related space within this Charlotte business park location.
CBRE handled sales representation on behalf of CB Equities. The brokerage team consisted of Matt Smith, Patrick Gildea, Robert Hardaway, Kris Westmoreland and Alek Salfia, who represented the seller in the transaction with Greenleaf Capital Partners. No additional advisory, financing or lender parties were identified in the information provided, and the capital structure details behind the acquisition were not disclosed.
On its website, CB Equities describes a strategy focused on three primary investment markets that it views as positioned for population and economic expansion over the short, medium and long term. Those target markets are the Greater Boston Metro Area, the Charlotte Metropolitan Area and Southeast Florida, where the firm notes that it has already established a presence. The sale of Forest Park IV fits within this broader investment footprint, with Charlotte serving as one of the firm’s stated core markets.
The information provided does not include the capitalization rate, financing terms or business plan for Greenleaf Capital Partners. However, the sale price, building size, building age, conversion to flex office, full occupancy and named tenant roster all offer insight into current investor activity for stabilized, flex office assets in the Charlotte market.
