Faison purchases Clanton Road flex park for $8 million

Faison purchases Clanton Road flex park for $8 million

waterford

Ashley Fahey
Staff Writer
Charlotte Business Journal

Faison closed on its purchase of the Waterford Center, a fully occupied flex office and showroom park at 801 Clanton Road, on Oct. 5. The $8 million transaction includes 7.2 acres, with two buildings totaling 90,329 square feet.

Under the name Faison-Waterford LLC, the firm purchased the park from Waterford Investors LLC, associated with Mid-South Realty, which purchased the center for $5.2 million in 2003. Faison said it acquired Waterford for “long-term investment” and continues to seek additional niche opportunities throughout the Southeast.

“We love the location and the visibility on 77,” said David Lampke, managing director of investments at Faison, adding no specific plans for upfit or renovations are planned at the current time.

Faison has retained Cushman & Wakefield to provide property management and leasing services. Kris Westmoreland and Grant Keyes at Cushman lease the building on behalf of the landlord.

Click here to see the original article in the Charlotte Business Journal.