December 15, 2023 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Spectrum in Charlotte, North Carolina. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $10,250,000.
Spectrum is located at 2910 Whitehall Park Drive in Charlotte, North Carolina. The Property consists of a 57,886 SF building on approximately ± 9.29 acres and is leased to Spectrum, a Charter Communications company. This Class-A construction asset was completed in 2000. Originally constructed as a flex warehouse, the building was upgraded with critical technological attributes as a call center for the tenant in 2014. Additionally, the Property has ample space for future expansion with 2.2 acres of undeveloped land adjacent to the building. Spectrum recently extended their lease demonstrating their commitment to the site and the market. Spectrum has 5+ years remaining on their lease with two (2), 5-year renewal options. The lease calls for attractive 2.5% annual increases in rent for the remainder of the lease term, providing an attractive increase in revenue and a hedge against inflation. The Property is strategically located along I-485 within the 700-acre White Hall master-planned community, which includes a technology park, retail district, corporate center, residential communities, and a nature preserve. The property is ideally situated a few minutes away from Charlotte Douglas International Airport, and is 9-miles from Charlotte’s Central Business District.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.