Investment giant pays $32.7M for two Sugar Creek sites in latest Charlotte acquisition

CHARLOTTE — A New York investment giant has added 20.5 acres in the Sugar Creek neighborhood to its growing Charlotte portfolio.

Blackstone Inc. (NYSE: BX) recently acquired two industrial parcels — 11.77 acres at 740 Johnson Road and 8.8 acres at 3408 N. Graham St. — from joint-venture partners Stockbridge Capital Group and Industrial Outdoor Ventures, according to Mecklenburg County property records.

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Blackstone paid a total of $32.7 million for the properties in a sale that closed on Jan. 7, records show. San Francisco-based Stockbridge and Chicago-based IOV paid $13 million for the sites in March 2022. Both properties are currently zoned for manufacturing and logistics (ML-2) use.

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