Lucern Capital Partners Completes $12.3 Million Sale of Fully Leased Crosslake Park 

Lucern Capital Partners has completed the sale of Crosslake Park, a 55,000-square-foot multi-tenant industrial property in Charlotte, North Carolina, for $12.3 million, following an approximately 2.5-year hold period. The property was purchased by a family office. 

Lucern acquired the asset with a focused value-add strategy: driving operational efficiency, securing new tenants, and maximizing occupancy. By aggressively backfilling vacancies, modernizing building systems, and maintaining hands-on management, the firm revitalized the property, while achieving 100% occupancy.

“Crosslake Park is a strong example of our strategy in acPon,” said Frank Forte, Managing Partner and Chief Investment Officer of Lucern Capital Partners. “We were able to acquire a well-located asset, execute on a clear value-creaPon plan, and ulPmately deliver a compelling outcome through disciplined operaPons and leasing.” 

Charlotte’s Small-Bay Industrial Market Remains Hot Commodity 

The Charlotte industrial market, especially small-bay and shallow-bay assets continues to thrive due to strong population gains, consistent demand from service-driven companies, and local providers. Small-bay vacancy is near 4% in the Charlotte market, about half that of the overall industrial sector, which highlights a pronounced supply-demand mismatch for well-situated, efficient space. 

“Demand for small-bay space consistently surpasses available supply,” Forte explains. “Much of the current vacant inventory consists of larger buildings, which don’t always suit the needs of local businesses. When location and product are aligned, competition intensifies in this market segment and that’s our focus.” 

Lucern has been an active real estate investor in the Charlotte metro area for over a decade. Their current total investment in this region is around $150 million.

About Lucern Capital Partners 

Founded in 2016, Lucern Capital Partners invests in light industrial and retail assets in high-growth East Coast markets. The firm pursues value-add opportunities with a disciplined, hands-on approach. Its management team has over $400 million in transaction volume and has completed over $2.5 billion in real estate transactions throughout their careers. Learn more at lucerncapital.com.