JLL Arranges $25.6M Acquisition Financing for Adler Real Estate Partners' Arrowridge Business Park in Charlotte
JLL Capital Markets has arranged $25.6 million in acquisition financing for Arrowridge Business Park, a four-building light industrial portfolio totaling 194,560 square feet in Charlotte, North Carolina, the firm announced July 22.
JLL worked on behalf of the borrower, Adler Real Estate Partners, to secure a five-year, fixed-rate bank loan for the asset located in Charlotte's Southwest submarket.
Property Details and Portfolio Composition
Arrowridge Business Park comprises four Class A light industrial buildings situated at 8041, 8107, 8227 and 8301 Arrowridge Boulevard. The portfolio sits adjacent to the Interstate 485 and Interstate 77 interchange, providing direct access to Charlotte's central business district and Charlotte Douglas International Airport. The properties are within a 15-minute drive of major population centers and residential neighborhoods including Ballantyne, SouthPark, Myers Park and South End.
The portfolio contains 28 suites with an average suite size of 7,000 square feet and approximately 30% office buildout. Physical specifications include 16-foot clear heights, dock-high and grade-level loading capabilities, and shared truck courts ranging from 140 to 160 feet with 50-foot concrete aprons.
The portfolio is 94.6% leased to 24 tenants across industries including HVAC services, distribution, manufacturing and specialty retail.
Deal Team and Lender Commentary
The JLL Capital Markets team was led by Senior Managing Director Melissa Rose and Director Kate Rathman, along with Associate Jovi Rodriguez.
"This portfolio presented a compelling opportunity to finance highly functional light industrial product in Charlotte at a significant discount to replacement cost," Rose said. "The asset's strategic positioning with immediate access to major transportation corridors and limited new supply created strong lender interest across both banks and life companies."
Adler Real Estate Partners' Light Industrial Strategy
Adler Real Estate Partners is a vertically integrated real estate investor and operator based in Miami that focuses on acquiring multi-tenant light industrial and business parks in growth markets across the United States. The firm carries a track record spanning three generations and approximately 60 years in the multi-tenant light industrial sector.
Since entering fund management in 2010, the Adler Real Estate Partners team has deployed and managed five funds and completed more than 50 acquisitions totaling 15 million square feet and over $2.0 billion in market value.
The Arrowridge Business Park acquisition fits Adler Real Estate Partners' established pattern of targeting growth metros with diversified, service-oriented tenant rosters. The five-year, fixed-rate loan structure aligns with a medium-term business plan that could encompass rent growth, lease-up of remaining vacancy and selective capital improvements.
Charlotte Industrial Market Context
Charlotte has maintained its position as a core logistics and light industrial hub in the Southeast, anchored by the I-77 and I-485 corridors and Charlotte Douglas International Airport — the same infrastructure central to Arrowridge Business Park's locational positioning.
Institutional capital has increasingly targeted multi-tenant light industrial in infill submarkets, where small-bay product serving local service providers and regional distributors offers diversified income across many smaller tenants. That tenant diversification reduces exposure to single-credit rollover risk and positions owners to capture rent growth across multiple lease expirations.
Rose's reference to a "significant discount to replacement cost" reflects a broader dynamic in infill industrial markets: the combination of land scarcity and construction costs makes it economically difficult to replicate shallow-bay, small-suite product in established locations, supporting valuations for stabilized existing assets. The limited pipeline of new small-bay, multi-tenant supply in infill submarkets has contributed to sustained lender interest in well-leased portfolios with functional specifications.
JLL Capital Markets operates as a full-service global provider of capital solutions for real estate investors and occupiers, with more than 3,000 Capital Markets specialists worldwide and offices in nearly 50 countries.