CBRE Brokers $15.5 Million Sale of AMREP Manufacturing and IOS Facility in Salisbury, NC

CBRE has arranged the $15.5 million sale of a Class-A manufacturing and industrial outdoor storage facility in Salisbury, North Carolina, with RJ Properties acquiring the asset from Beacon Capital Partners. The transaction involves 125 Summit Park Drive, an 81,225-sq.-ft. mission-critical facility purpose-built for AMREP, a premier U.S. manufacturer of refuse collection equipment and a key brand within the Wastequip family.

Transaction Details and Brokerage Teams

CBRE's Robert Hardaway, Patrick Gildea, and Matt Smith represented the seller, Beacon Partners, in the transaction, alongside CBRE leasing professionals Anne Johnson, John Christenbury, and Piers Wates. The buyer, RJ Properties, was represented by CBRE's Gary Stache. The deal closed at an implied price of approximately $191 per square foot.

Beacon Partners developed the facility in 2025 as a build-to-suit expansion of AMREP's existing operations within Summit Corporate Center. The property comprises approximately 81,225 sq. ft. of manufacturing and office space situated on 19.68 acres, including approximately four acres of secured industrial outdoor storage. The sale represents a merchant-build exit by Beacon Partners roughly one year after delivery, monetizing the stabilized asset as investor appetite for modern manufacturing and IOS product remains active.

"As evidenced by this transaction, investor demand for high-quality, well-located industrial product remains strong," said Robert Hardaway, Associate Vice President at CBRE. "The asset's institutional-quality construction, mission-critical use and secure IOS component made it particularly attractive to investors, especially given the limited availability of similar acquisition opportunities in the market."

Asset Profile: Mission-Critical Manufacturing and IOS

The facility at 125 Summit Park Drive serves as a complementary expansion of AMREP's existing manufacturing campus within Summit Corporate Center in Salisbury, NC. AMREP manufactures refuse collection equipment, a production process closely tied to municipal contracts, waste hauler fleet cycles, and infrastructure spending. The secured IOS component — approximately four acres — supports truck body staging, parts storage, and equipment distribution, functions that are integral to AMREP's operations and underpin the asset's mission-critical classification.

The property's institutional-grade construction, single-tenant occupancy profile, and purpose-built configuration for a specialized manufacturer position it within a narrow segment of the industrial market where comparable acquisition opportunities are limited, according to CBRE.

Rowan County and the Charlotte Industrial Market

Located approximately 30 minutes north of Charlotte, Rowan County sits along the I-85 Super Region megacorridor, a continuous band of industrial and logistics development stretching from Atlanta through Upstate South Carolina, Charlotte, and the Piedmont Triad. The county has emerged as a strategic extension of Charlotte's industrial footprint, offering access to a large labor pool, multimodal transportation infrastructure, and a pro-business environment that has attracted advanced manufacturing investment.

Charlotte's industrial market recorded 3.18 million sq. ft. of net absorption year-to-date through the second quarter of 2026, while vacancy declined to 7.1%, according to CBRE Research. Rowan County contributed more than one million sq. ft. of that net absorption during the first half of the year, underscoring the submarket's growing role within the broader Charlotte industrial region.

The supply dynamics in the Charlotte-Rowan corridor have favored assets like 125 Summit Park Drive. Post-pandemic industrial development in the Charlotte region skewed heavily toward high-clear distribution facilities, leaving heavy manufacturing and secured IOS properties in comparatively short supply. That scarcity, combined with strong absorption and a vacancy rate that supports rent stability, has drawn investor capital into newly delivered, stabilized manufacturing assets north of Charlotte's core counties.

Market Implications

The transaction reflects converging trends in commercial real estate investment: sustained institutional and private capital interest in industrial outdoor storage as a distinct subsector, the continued expansion of the I-85 megacorridor as a preferred location for advanced manufacturing, and the appeal of newly delivered, build-to-suit assets that eliminate construction risk for buyers. For Beacon Partners, the sale allows capital recycling into its development pipeline at a point when buyer demand for stabilized industrial and IOS product in the Carolinas remains competitive. RJ Properties, as the acquiring party, gains a long-term, mission-critical asset in a submarket that has demonstrated consistent absorption growth through the first half of 2026.