Rye Brook company a buyer in $52.1M Charlotte deal

LRC Properties LLC, a commercial real estate investment and management company headquartered in Rye Brook, with a joint-venture partner has acquired a nearly 1 million-square-foot distribution center in Charlotte, N.C., in a $52.1 million deal, the Westchester company announced.

The purchase of Logistics Pointe Distribution Center makes LRC and its joint-venture partner, New York Life Real Estate Investors, the third-largest industrial owner in Charlotte with nearly 3 million square feet of space, according to an LRC spokesperson. The distribution center is a five-building complex on a 66-acre campus with 87 percent occupancy, the new owner said.

New York Life Real Estate Investors is a division of NYL Investors LLC, a wholly owned subsidiary of New York Life Insurance Co.

LRC Properties, which focuses on commercial real estate investments in the southeast U.S., also has an office in Charlotte.