**LM Real Estate Partners Acquires Mooresville Industrial Park for $48M**
LM Real Estate Partners has purchased Oates Crossing, a four-building industrial park located in Mooresville, North Carolina, for $48 million. The acquisition includes 237,734 square feet of existing industrial space along with approximately 8 acres of land reserved for future development. The seller in the transaction was Atlanta Property Group.
Oates Crossing is currently 99% leased, housing 15 tenants. The property is situated at 105 Corporate Center Drive, conveniently located near Exit 36 off Interstate 77.
JLL brokers Dave Andrews, Pete Pittroff, and Michael Scarnato represented Atlanta Property Group in the sale.
This transaction follows LM Real Estate Partners’ high-profile acquisition last year of the Premier Distribution Center in southwest Charlotte. That 1.4 million-square-foot facility, formerly a Continental Tire plant, was acquired for $97 million and represents one of the most significant industrial deals in the Charlotte region in recent years, following the site’s repurposing after Continental Tire’s relocation to South Carolina in 2014.
