CBRE Facilitates Sale of Twin Oaks Flex Property in Charlotte s Southwest Submarket

CBRE announced the sale of Twin Oaks, a 108,760-sq.-ft. flex property located at 1337-1338 Hundred Oaks Drive in Charlotte, North Carolina, to FirstLight Investments for $11.75 million.

CBRE's Matt Smith, Robert Hardaway, Alek Salfia and Patrick Gildea represented the seller, Griffin Partners, in the transaction. Pintail’s Matt Vanvick, CCIM, SIOR represented the buyer, FirstLight Investments.

Twin Oaks comprises two single-story flex buildings on 24.82 acres in Oak Hill Business Park. The property features a mix of office and warehouse space, 10 dock-high doors, 15-foot clear heights and direct access to Interstate 77, Interstate 485 and Charlotte Douglas International Airport. Flexible suite configurations accommodate a variety of office, warehouse and light industrial users.

Ownership invested more than $1.1 million in capital improvements between 2019 and 2022, including roof replacements, exterior enhancements, updated signage and outdoor amenity upgrades. The renovations modernized the property while enhancing its functionality and appeal for current and future occupants.

“Twin Oaks is representative of a trend that we are seeing across the market, in which buyers are targeting single story product for flex conversion,” said Smith, Senior Vice President at CBRE. “The vacancy presents a fantastic opportunity for FirstLight to reduce the overall percentage of office in the asset, increasing the appeal to a broader base of industrial tenants.”

The campus is located along the I-77 corridor with convenient access to Uptown Charlotte, South End, SouthPark and the Westinghouse industrial corridor. The property is approximately 15 minutes from Charlotte Douglas International Airport and benefits from proximity to one of the region's most established business and industrial districts.

“We are grateful to Griffin Partners for their stewardship of Twin Oaks and excited to add it to our growing Southeast portfolio,” said McKee Thomason, Director of Investments at FirstLight Investments. “We see a strong opportunity to lease up the remaining vacant space and position the asset for continued long-term success.”