JLL Capital Markets arranged the sale of highly infill 281K SF industrial facility located in Charlotte, NC
News release
03 February 2025
JLL facilitates the sale of 4135 Chesapeake Drive
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CHARLOTTE, Feb. 3, 2025 – JLL Capital Markets announced today the sale of 4135 Chesapeake Drive, a fully leased 281,585-square-foot industrial facility in Charlotte, North Carolina.
JLL represented the seller, Time Equities, in the transaction.
Located just four miles from Uptown Charlotte and six miles from Charlotte Douglas International Airport, the property is strategically positioned to serve the region's growing populations. Additionally, it sits on a 10.86-acre site in Charlotte's Northwest submarket, offering excellent access to Interstates 85 and 77.
The JLL Carolinas Industrial Investment Sales and Advisory team was led by Director Michael Scarnato, Senior Managing Director Pete Pittroff, Senior Director Dave Andrews and Analyst Michael Lewis.
"The Charlotte industrial market, particularly the Northwest submarket, has seen explosive growth, with average asking rents increasing by over 117% since 2019," said Scarnato. "4135 Chesapeake Drive offers a strategic location in one of the region’s largest concentrations of infill industrial product."
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.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Time Equities, Inc.
Founded in 1966, Time Equities, Inc. (“TEI”) is a diversified investment, development, asset and property management, licensed real estate brokerage, and alternative energy company that has been in business for more than 58 years. The TEI portfolio includes approximately 43 million square feet of residential, industrial, office and retail property including about 6,000 multi-family apartment units, approximately 900,000 square feet in pending acquisitions, and 2 million square feet of various property types in stages of pre-development and development. With 329 properties across 37 states, five Canadian provinces, Anguilla, Germany, Italy, and the Netherlands, the TEI portfolio benefits from a diversity of asset types including non-performing loans, B-notes, and alternative energy investments. TEI has a variety of market concentrations in the Northeast, Southeast, Midwest and West Coast of the U.S., and new markets around the world are always being evaluated.