News Summary
Cohn Development, based in South Carolina, has acquired the Nisbet Business Center in Pineville for $13 million. The acquisition adds four buildings providing 80,790 square feet of industrial space. Situated at 12245 Nations Ford Road, the property also includes 4.3 acres for potential future development, aligning with Cohn’s growth strategy in the industrial sector. This move is expected to enhance Pineville’s industrial activities, benefiting local businesses and the workforce.
Exciting News from Pineville: Cohn Development Expands Its Footprint with a Major Acquisition
Pineville has just welcomed an exciting new addition to its industrial scene! Cohn Development, a company based in Columbia, South Carolina, has jumped into action by acquiring the Nisbet Business Center for a whopping $13 million. This deal, which wrapped up earlier this month, is making waves in the area, as confirmed by the Mecklenburg County real estate records.
A Closer Look at the Nisbet Business Center
So, what exactly does this acquisition entail? Nestled at 12245 Nations Ford Road, the Nisbet Business Center is conveniently located near the state line, just south of Westinghouse Boulevard and not even a mile from South Carolina. This industrial park isn’t just a small operation, either; it boasts four buildings that together provide a staggering 80,790 square feet of space! Talk about room to grow!
But wait, there’s more! The property also includes 4.3 acres of land that holds potential for future development. Imagine the possibilities! With clear heights ranging from 16 to 20 feet, these buildings are perfect for a variety of businesses looking to set up shop.
Who’s Behind the Deal?
The smooth acquisition process was facilitated by a dedicated team from the Colliers International capital markets team, including Nolan Ashton and Tommy Whitmore. The leasing expertise for Nisbet Business Center came courtesy of Justin Smith from Colliers, ensuring the property is ready for its new aspirations.
What’s Cohn Development All About?
Cohn Development is no stranger to the industrial property world. The company has made a name for itself by focusing on smaller industrial and flex commercial properties. Currently managing an impressive portfolio worth more than $200 million across diverse regions in the U.S., including the Southeast, Northeast, Midwest, and Southwest, Cohn is clearly on a growth trajectory.
Harris Cohn, a key player in the firm, expressed that the Nisbet Business Center acquisition aligns perfectly with their development strategy. It complements their existing light industrial portfolio and positions them for exciting new ventures.
What’s Nearby?
The Nisbet Business Center is not alone in this bustling industrial hub. It sits right next to one of the largest developments in the region: the Carolina Logistics Park. Developed by Beacon Partners, this massive complex spans over 300 acres and will include more than 4 million square feet of industrial space! Major players like Carolina Foods, Bosch Rexroth Corp., Amazon.com, and W.W. Grainger Inc. have already made their mark here, making this an exciting location for future businesses.
What’s Next for Pineville?
With Cohn Development’s latest acquisition, Pineville is set to see even more industrial growth and activity. As the Nisbet Business Center integrates into the community, the benefits will ripple out to the surrounding businesses and local workforce. It’s a bustling time for the area, an area with robust potential just waiting to be tapped!
Stay tuned, Pineville! There’s a lot happening in your neck of the woods, and this latest acquisition is just the tip of the iceberg. Whether you’re a local business owner, a curious resident, or simply interested in real estate, there’s no denying that Pineville is a place to watch!
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