CHARLOTTE, North Carolina (May 6, 2025) – KBS, one of the largest owners and operators of premier commercial real estate buildings in the nation, announces the sale of Crossroads Distribution Center, a 496,723 square-foot, four-building, multi-tenant, industrial property in Charlotte, North Carolina. The property is 100% leased to 13 tenants, averaging 38,000 square feet, and has been added to the portfolio of Link Logistics, a leading operator of last-mile logistics real estate.

According to Marc DeLuca, KBS CEO and regional president, Eastern U.S., even amid ongoing national economic uncertainty, the Charlotte metro area continues to demonstrate strength, easily attracting investors looking for well-located industrial assets, due to its robust manufacturing sector and the city’s pro-business climate. Helping to sustain momentum in both investment and workforce expansion.

“As one of the fastest-growing metros in the country, Charlotte remains a top destination for expanding companies and talent drawn by its affordability, quality of life, and economic diversity,” says DeLuca. “The strength of the Charlotte market helped KBS position Crossroads Distribution Center for a successful sale, bolstering the long-term strength and liquidity for the portfolio. The region is well-positioned for continued growth, supported by strong in-migration.”

More people are moving to Charlotte than almost any other metro, U-Haul data shows. Situated on the southern border of North Carolina, the Charlotte metro area, consists of ten counties across North and South Carolina. The city is home to eight Fortune 500 corporations, and the population is forecasted to top three million people by 2030. Since 2000, the area’s growth has exceeded Austin, Nashville, and Dallas, three of the fastest-growing cities over that same time period.

“Shifting economic conditions nationally are not expected to slow the population growth and the rising labor force locally, as Charlotte will continue to benefit from its strong demographics. The city has recently experienced significant population growth due to its central location along the eastern seaboard, mild weather, and access to prestigious universities and colleges,” says Allen Aldridge, asset manager of Crossroads Distribution Center, SVP and co-director of asset management at KBS. “Attracting global companies like DetraPel, which recently announced plans to relocate its headquarters and manufacturing operations to the area, with plans to invest $3.5 million and create more than 30 new jobs. It will establish a 40,000-square-foot facility, with operations set to begin late in the spring or early in the summer that will help Crossroads Distribution Center, and its new owners continue to benefit from the robust economic environment of the Charlotte region.”

Demand is expected to continue unabated as tenants seek quality space in the fast-growing Charlotte metro area and logistics companies looking for high-quality warehouse/distribution space to service the growing population and end-users, according to Cushman & Wakefield’s industrial report for Q1 2025. Net absorption of 835,210 square feet was recorded in the first quarter, marking the 16th consecutive quarter of occupancy gains in Charlotte as tenants continued to lease and occupy industrial space. While previous quarterly demand was driven by preleasing and build-to-suit deliveries, the past two quarters have recorded occupancy gains through new tenant leasing.

Crossroads Distribution Center consists of four Class-A, industrial properties totaling nearly 500,000 square feet. The buildings offer clear heights ranging from 24- to 30-feet and are surrounded by 50-foot concrete aprons and truck courts ranging from 100- to 140-feet. The 100% occupied buildings are currently subdivided into multiple tenant spaces at each building. All the structures have multiple drive-in ramp access points, numerous dock-high doors, and ample on-site parking for employees and visitors. Crossroads Distribution Center is immediately accessible to Interstate 77 and 485 and a short drive to the Charlotte Douglas International Airport and Norfolk Southern’s Intermodal Terminal.

“This acquisition strengthens Link Logistics’ presence in a high-conviction market,” says Nicholas Brady, managing director, Investments at Link Logistics. “Crossroads Distribution Center’s location in a high-barrier, established submarket of Charlotte reflects our strategy of investing in top-tier, last-mile assets in key logistics hubs.”

The team of Stewart Calhoun, vice chair; Casey Masters, executive director; Rob Cochran, executive director; and Bill Harrison, executive director, all with Cushman & Wakefield represented KBS.

“Crossroads Distribution Center is a high-quality property with direct access to important transportation infrastructure including air, road and rail,” says Calhoun. “Additionally, the property has a full roster of high-quality manufacturing and distribution companies as tenants. It was our pleasure to assist in finding a buyer and getting excellent value during a unique real estate cycle.”

Attorneys Bruce Fischer, Howard Chu and paralegal, Amanda Kennedy, of global law firm Greenberg Traurig, LLP’s Orange County and Ryan Reimers from the Charlotte offices represented KBS as legal counsel in the disposition.

According to Fischer, Greenberg Traurig’s Chair of the West Coast Real Estate Practice and Co-Managing Shareholder of the Orange County Office, who led the Greenberg Traurig team, “We were pleased to work with KBS in the sale of Crossroads Distribution Center. North Carolina’s manufacturing and industrial sectors have exhibited strength thanks to its business-friendly climate and low unemployment.”

Crossroads Distribution Center is located at 11401 Granite Street, Charlotte, North Carolina.

For photos of the property, please visit here.

About KBS

KBS is one of the largest investors of premier commercial real estate in the nation. As a private equity real estate company and an SEC-registered investment adviser, KBS and its affiliated companies have completed transactional activity of more than $45.5 billion on behalf of private and institutional investors globally. Founded in 1992 by Peter Bren and Chuck Schreiber, KBS acquires and operates high-quality commercial real estate in some of the most successful epicenters in the country. The firm is committed to its business ethics, its business relationships, and its constant focus on exceeding the expectations of its investors, partners, and tenants. SEC registration as an investment advisor does not imply any particular level of skill or training. For more information on KBS, please visit www.kbs.com.

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to KBS’ ability to invest in and manage a diverse portfolio, and the performance of Crossroads Distribution Center and of the Charlotte, North Carolina real estate market. These statements are subject to known and unknown risks, uncertainties and other factors which may cause Crossroads Distribution Center’s actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

KBS Media Contacts: 
Sophia Reznicek or Vivian Liu
The Smart Agency
949-438-6262
KBS@thesmartagency.com

Ginny Walker
KBS Senior Public
Relations Director
949-417-6535
gwalker@kbs.com

Link Logistics Media Contact:
Melissa Sachs
Chief Communications Officer
MSachs@LinkLogistics.com