Lucern Capital Partners sells NC industrial property

CHARLOTTE, NC — Lucern Capital Partners, a real estate investment firm specializing in opportunistic investments in light industrial, small bay, and mixed-use assets across high-growth East Coast markets, announced the sale of a 49,625 s/f industrial property in Charlotte, NC, for $8.5 million. The firm acquired the property just over two years ago for $5.6 million, achieving nearly $3 million in profit.

The Charlotte property marked the firm’s first industrial acquisition following a strategic shift from multifamily investments. Home to 40 tenants, many in the automotive services sector, the asset was targeted for its potential to yield strong rents in an underserved segment of the market.

“Our strategy was to focus on value creation through operational discipline and professional asset management,” said Frank Forte, founder and chief investment officer at Lucern Capital Partners. “We saw an opportunity in this asset and moved quickly to unlock its potential while leaving room for future growth for the next owner.”

Over the hold period, Lucern Capital Partners implemented operational and management enhancements with minimal capital investment. Professional management practices—including the conversion of tenants from month-to-month arrangements to traditional lease terms and the rollout of a structured parking plan—helped stabilize the rent roll and improve rent collection timelines. A shift from gross leases to triple-net leases also helped insulate the property from expense volatility and increased its long-term value.

The property was sold ahead of full stabilization—a calculated decision that maximized exit value while maintaining upside for the buyer.