The acquisition is the first through the firm’s newly established general partnership equity fund
Accordia continues to expand its portfolio of industrial properties in the Sun Belt with the acquisition of Starita Exchange, a 97,330-square-foot, two-building property in the Charlotte metro area.
The $17.8 million acquisition is the first completed as part of the firm’s General Partner Fund. The closed-end general partnership equity fund, established in 2025, intends to target value-add real estate investment opportunities in partnerships with institutional Joint Ventures.
“Demand for shallow bay spaces in Charlotte has outpaced supply for some time, which makes investment opportunities like Starita Exchange especially attractive,” said Jason Bogart, Principal, Accordia.
Located at 1920 and 2020 Starita Road, Starita Exchange is part of the institutionally owned Woodland Business Park. Starita Exchange is a rare shallow bay opportunity in Charlotte, where going rents for this property type have shown exponential growth. This brings the number of shallow bay assets to 5 owned and managed by Accordia in the region. The Starita Exchanges are currently 85% leased.
The two buildings that make up Starita Exchange offer 20 dock doors and 9 ramped drive-ins between them, offering extensive infill distribution capabilities for tenants. Suite sizes range from 4,860 square feet to 14,580 square feet, with an average unit size of 7,500 square feet and a depth of 135 feet. Each unit features 100-foot-deep truck courts and rear-load capabilities at clearances of at least 16 feet. There is also ample car and trailer parking for employees, visitors, and truck drivers.
“This is a really unique project with a high-performing infill product that’d be very costly to duplicate today,” said Dave Andrews, Senior Director, JLL Capital Markets, the investment advisors on the project. “The location speaks for itself,” he said.
The Charlotte metro area, one of the fastest-growing regions in the United States, is emerging as one of the country’s highest population growth areas and best places to do business in the country. Starita Exchange is directly off I-85, less than 2 miles from I-77, less than 4 miles from I-277, and less than 9 miles from the Charlotte Douglas International Airport.
“As Charlotte continues to grow in population and commercial density we will be there to provide good quality buildings to the businesses that service and support that growth,” adds Frank D. Recine, Principal, Accordia. “Properties like Starita Exchange are precisely what these companies are looking for as they grow.”