The $148 million sale of a 20-building industrial real estate portfolio comprised of 1.25 million square feet of property includes an industrial park in Charlotte.

The Florida-based seller Adler Real Estate Partners sold the properties to Exeter Properties, which is based in suburban Philadelphia.

Charlotte’s 250,000 square-foot Shopton Ridge Industrial Development, which is part of the deal, includes five single-tenant buildings within a 10-15 minute drive to Charlotte Douglas International Airport.

In 2015, Adler purchased the property for just over $33 million from Trinity Capital Advisors.

At the time, it said it purchased the property in line with acquisition criteria of “multi-tenant office, industrial and flex properties; $10M or more in deal size; value-add to stabilized opportunities with corresponding risk-adjusted returns; growth cities in the eastern and southern United States” and a three- to seven-year hold period on assets.

Adler also purchased two Charlotte properties in Carmel Executive Park at Carmel and Pineville-Matthews roads in 2013.

With the addition of Shopton Ridge, Exeter Properties now owns six warehouse properties in North Carolina — four in Charlotte and two in Concord.

The investment firm specializes in industrial space throughout North America and Europe. It focuses on big box warehouse, multi-tenant logistics, flex, and related business park properties.