CBRE Teams Arrange Construction Financing for Spec Industrial Building in Charlotte

CBRE has arranged a $27 million construction loan and a joint venture equity investment for the development of Constellation 485 South, a 374,220-square-foot speculative warehouse in Charlotte, North Carolina. The project is being led by Dallas-based Constellation Real Estate Partners.

Brian Linnihan, Mike Ryan, Richard Henry, and Taylor Crowder with CBRE Capital Markets’ Debt & Structured Finance, along with Frank Fallon and Trey Barry of CBRE National Partners, all based in Atlanta, represented Constellation in both the debt and equity. The construction loan was sourced through HIMCO while the equity was placed with an insurance company.

“Capital was attracted to the deal due to its infill location, strong market fundamentals, and experienced sponsorship,” said Linnihan, Vice Chairman at CBRE. “Multiple providers were interested in the debt and the equity.”

Located at 1900 Continental Blvd. in Charlotte, the 374,220 sq. ft. spec warehouse will sit on approximately 41 acres and will feature 80 dock doors, two drive in doors, 65-foot speed bays, a 185-foot truck court, 87 trailer parking spots, 315 auto parking spots, and the flexibility to accommodate a single tenant or multiple tenants. The project is expected to break ground in June and will deliver in summer 2025.

With offices in Georgia, Texas, Colorado and Florida, Constellation Real Estate Partners focuses on the development and acquisition of industrial properties across the Sun Belt. The company’s principals have over 125 years of combined experience and a track record of over $25 billion invested into industrial real estate and over 100 million sq. ft. of industrial developments.