Capital Square 1031 Buys 151,000 SF Manufacturing Facility in Greater Charlotte
November 15, 2018
Capital Square 1031, a real estate investment and management firm specializing in Delaware statutory trust offerings, has purchased a 151,000-square-foot corporate headquarters and manufacturing facility located in greater Charlotte, North Carolina for an undisclosed amount. The property is leased to Carolina Beverage Group for 20 years on an absolute net basis.
“The tenant has invested approximately $80 million into equipment and infrastructure at the property, which supports long-term tenant retention,” said Louis Rogers, founder and chief executive officer of Capital Square 1031. “Additionally, the property benefits from its excellent location in greater Charlotte, which has been one of the nation’s fastest-growing metros over the past 15 years. Capital Square acquired the property for a Delaware statutory trust offering, making it the 51st DST we have sponsored since inception.”
The facility serves as the corporate headquarters for Carolina Beverage Group, a co-packing producer for national and international beverage brands like Monster Energy, Red Bull, Rockstar, Pepsi, and others. The company focuses on co-packing specialty-sized cans, plastic bottles and glass containers for makers of malt beverages, distilled spirits, energy drinks and other ready-to-drink beverages. The facility has a current capacity of 38 million cases annually.
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