Abacus Capital (Abacus) with joint venture partner B&D Holdings (B&D) is pleased to announce that it has acquired 408 Brook Street in Belmont, NC.
408 Brook Street is a highly functional 54,600 SF industrial asset constructed in 2002 with 26’ clear heights located in the Charlotte suburb of Belmont, NC.
Abacus acquired the asset for $5.5M ($100/SF) or approximately 65% of replacement cost in an off-market transaction from an owner occupant.
The partners’ business plan includes repositioning the building to maximize curb appeal and enhance functionality to appeal to a broad swath of distribution and light manufacturing tenants.
The asset is located on +/-6 acres approximately 2 blocks from charming downtown Belmont and adjacent to a large planned mixed use development, enhancing new ownership’s future optionality around the site.