Charlotte, NC (April, 2017) – MPV Properties (MPV) recently represented Material Handling Industry in their purchase of the Water Oak building located within Oak Hill Business Park in Charlotte, NC. The 95,000 SF building is located at 8720 Red Oak Boulevard, directly west of Interstate 77 at Arrowood Road. An original tenant in the building, the buyer has done business from Water Oak since 1986, and currently occupies 13,000 SF of the building.
Robby Kirby of MPV represented the buyer in the transaction, and Adler Group, who was the seller, represented themselves. The sale closed in February for $8.35M. The building is currently 87% leased, with a total of 13,522 SF currently available. Robby Kirby is responsible for leasing, and Bernie Smith, also with MPV, is responsible for the management of the property.
About Material Handling Industry (MHI)
MHI is the nation’s largest material handling, logistics and supply chain association. Incorporated in 1945 with the objective of serving its members and promoting the industry at large, today MHI serves over 800 members with education, networking and solution sourcing, and specialized programs and events. For more information, visit www.mhi.org.
About MPV Properties
MPV Properties is one of the Charlotte area’s leading commercial real estate firms offering office, industrial, retail and land brokerage, development, and property management services. For more information, visit www.mpvre.com.