The acquisition was facilitated by Land Advisors Organization’s Charlotte office
SCOTTSDALE (February 2, 2022) – Walton has acquired 217 acres in the Piedmont area of NC, which is approximately 20 minutes west of Charlotte in Gaston County. The global real estate investment and land asset management company with US$3.4 billion under management has earmarked the land, known as Union New Hope, for single-family residential development. The property is located along Union New Hope Road just west of Cramerton.
“This is Walton’s first land acquisition in a new submarket in Gastonia which has an influx of people moving to the area that has generated a high demand for new homes,” said Barry Dluzen, Walton’s executive vice president of land. “We enjoyed working with a top national homebuilder on this acquisition who plans to bring needed single-family units to this market.”
Walton has secured interest from a top national homebuilder in the form of a letter of intent for the land parcel. Forde Britt, an advisor with Land Advisors Organization’s Charlotte office, facilitated the closing of the land transaction, representing the seller in the deal.
“With secondary markets surrounding Charlotte continuing to experience exponential growth, Gastonia was an ideal fit for Walton,” said Forde Britt with Land Advisors Organization’s Charlotte office. “We appreciated the opportunity to connect them with such an ideal parcel that’s well-located in the path of growth.”
Piedmont sits on a scenic plateau nestled between the Blue Ridge Mountains and the Upper Coastal Plains in the third-largest county in Charlotte. It is near downtown and Charlotte Douglas International Airport, which is accessible by Interstate 85 and US Highway 321. The Union New Hope property sits just 15 minutes from the center of Gastonia, 20 minutes from Charlotte Douglas International Airport, 30 minutes to uptown Charlotte and 45 minutes to most of the Charlotte MSA.
Rich in history, Gaston County originally found success in textile production and remains the top county in cotton consumption and in the number of operating spindles. Today, the county is home to numerous businesses in a variety of manufacturing industries.
This acquisition adds to Walton’s existing land portfolio in North Carolina providing a scalable land acquisition platform to support homebuilders with just-in-time inventory.