CHARLOTTE– Data backup and storage company FileVault has purchased a 78,830-square-foot building in Charlotte’s Thomasboro-Hoskins neighborhood for an undisclosed amount.
Prior to acquiring the property at 500 Gulf Drive, FileVault rented space at 839 Exchange Street in Charlotte.
Legacy Real Estate Advisors provided tenant representation services on behalf of FileVault.
“Their lease was expiring,” says Andy Dinkin, a broker with Legacy Real Estate, “and we found a great building at a fair price and FileVault was able to get favorable financing. Even with the cost of financing and the moving expenses, the mortgage payments are less then they were paying in rent, and they get more square footage and they are building equity in a building.”
The price per square foot of such industrial space in Charlotte, Dinkin says, is on the rise.
“500 Gulf Drive,” he says, “would rent for around $4 per square foot [triple net]. Industrial rates are climbing due to low supply.”
FileVault also provides data shredding and paperless conversion. The company was established in 2001.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism
