The State of North Carolina has selected CBRE as its broker representative in the disposition of a unique 47-acre tract located at 4100 Meadow Oak Drive in the airport submarket. The State is selling this underutilized asset to promote economic growth and private sector investment.

4100 Meadow Oak Drive is located in the heart of Charlotte’s largest suburban office submarket. The area has experienced increased activity in new mixed-use developments: City Park, Sealed Air’s new global campus and the VA Hospital’s new 400,000-sq.-ft. facility. 4100 Meadow Oak Drive is minutes away from Charlotte Douglas Airport and Downtown Charlotte, as well as I-77 and I-85.

Zoned for residential multifamily, 4100 Meadow Oak Drive is expected to generate significant interest given the current level of market activity in the airport submarket. With more retail space and residential units being developed, as well as hotels to cater to the nearby airport, several development options exist.

"The sale of surplus real estate saves taxpayer dollars and re-purposes a public asset for private sector use," said Troudy Vaughan with CBRE’s Public Institutions & Education Solutions (PIES) Group. "The sale also supports Governor McCrory’s directive to manage State owned real estate more efficiently." 

Compie Newman, Managing Director of CBRE’s Charlotte office, added, "This partnership creates a unique opportunity to optimize the State’s real estate holdings. We are excited to be working with the State of North Carolina.”  

Hunter Barron, Frank Larsen and Steve Lowe from CBRE’s Charlotte office will market the property for the State. For additional information please contact Hunter Barron with CBRE at Hunter.Barron@CBRE.com or 704-331-1233.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue).  The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide.  CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.  Please visit our website at www.cbre.com.