$29.5 million financing arranged for Charlotte industrial business park

NEWPORT BEACH, Calif., May 1, 2023 –  JLL Capital Markets announced today that it has arranged $29.5 million in financing for Whitehall Tech Center, a three-building, industrial business park totalling 279,150 square feet in Charlotte, North Carolina.

JLL represented the borrower, CIP Real Estate, in securing the three-year floating-rate loan through a life insurance company.

Whitehall Tech Center is comprised of three buildings — Whitehall I, II and III. Whitehall I and II are multi-tenant, mid-bay industrial buildings totalling 204,900 square feet. Whitehall III is a to-be-built, 74,250-square-foot building that is projected to break ground in Q2 2023. The buildings will have a combined 493 parking stalls, clear heights ranging from 20 to 28 feet and 57 dock-high doors.

Situated on 26.7 acres, the properties are located at 2745, 2915 and 2705 Whitehall Drive in Charlotte’s Southwest industrial submarket. This submarket is one of the most sought-after and prestigious institutionally owned industrial submarkets in the Carolinas. Bisected by I-77 and located along the I-485 beltway, the Southwest market is advantageously positioned to provide users a touchpoint to the fundamentally stable Charlotte economy and its world-class logistics infrastructure.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Executive Managing Director Kevin MacKenzie and Senior Directors Peter Thompson and Taylor Alison.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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