MOUNT KISCO, N.Y.--(BUSINESS WIRE)--Jun 2, 2026--
Diamond Properties, a leading real estate investment, management, and development firm, today announced the acquisition of Conover Distribution Center, a 113,568-square-foot industrial facility located at 2050 and 2160 Evergreen Drive NE in Conover, North Carolina. The property is 100% leased to Dalco Nonwovens, a leading manufacturer of specialty nonwoven fabrics serving automotive, industrial, geotextile, home furnishings, and acoustical markets.
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Located within the Charlotte metropolitan region, the facility occupies nearly 50 acres and benefits from direct access to Interstate 40 and major transportation corridors including I-77, U.S. 321, and I-85. The acquisition further expands Diamond Properties' industrial portfolio in high-growth markets supported by strong demographic trends, robust logistics infrastructure, and sustained tenant demand.
"The Conover Distribution Center represents exactly the type of investment opportunity we seek: high quality industrial real estate in a strategic growth market with a strong operating tenant and long-term value creation potential," said Jim Diamond, CEO of Diamond Properties. "The Charlotte region continues to demonstrate exceptional economic and population growth, and this property's location, functionality, and future expansion capabilities make it an outstanding addition to our portfolio."
The facility serves as a mission-critical manufacturing and distribution location for Dalco Nonwovens, which occupies the entire building. The property offers approximately 113,568 square feet of warehouse and office space and includes additional land that may support future expansion opportunities.
Key Property Highlights
Why is this acquisition significant?
The acquisition reinforces Diamond Properties' commitment to investing in industrial assets located within high-performing logistics corridors. The Charlotte region has become a major hub for manufacturing, distribution, and supply chain operations due to its central East Coast location, expanding population base, and business-friendly environment.
What made the property attractive?
The combination of a fully occupied facility, strong tenant operations, expansion potential, and proximity to key transportation infrastructure created a compelling investment opportunity. The property also benefits from favorable industrial market fundamentals, including limited supply and continued demand from manufacturers and distributors throughout the Southeast.
What are Diamond Properties' plans for the property?
Diamond Properties plans to continue supporting tenant operations while actively managing the asset for long-term growth and value creation. The company will evaluate future opportunities to enhance the property's performance and maximize its strategic potential over time.
Conover Distribution Center is positioned less than two miles from Interstate 40, providing regional and national connectivity throughout the Southeast. The property is situated within Catawba County, a highly sought-after industrial submarket known for its strong occupancy levels, skilled workforce, and access to major transportation infrastructure.
The Charlotte metropolitan area remains one of the nation's fastest-growing regions and continues to attract investment from manufacturers, logistics providers, and corporate users seeking efficient access to East Coast markets. With nearly three million residents and a diversified economic base anchored by finance, energy, manufacturing, and distribution industries, the region has established itself as a premier destination for industrial investment.
For more information about Diamond Properties, visit www.dpmgt.com.
About Diamond Properties
Diamond Properties is a commercial real estate business located in Mount Kisco, NY that focuses on the acquisition of commercial properties with potential for substantial improvement through hands-on property management, market repositioning, and capital upgrades. Founded 1995, they have acquired 125+ properties, including office, medical, industrial, retail, self-storage, residential, lodging, and land and currently own more than 100 properties with 17 million square feet in 13 states. We continue to pursue a capital improvement and leasing program that, when combined with quality-driven customer service, has enabled us to deliver consistently high tenant satisfaction and lease renewal rates.
Diamond Properties Acquires Conover Distribution Center in Charlotte Industrial Market
LOS ANGELES (AP) — After a shaky first term framed by a devastating wildfire and an ongoing struggle with widespread homelessness, Democratic Los Angeles Mayor Karen Bass is looking for a return trip to city hall Tuesday while facing challenges from both ends of the political spectrum.
Spencer Pratt, a Republican and former star of the reality television show “The Hills,” accuses Bass of letting the fires get out of control and failing to make enough progress on the homeless crisis. His candidacy has drawn national attention as a barometer for dissatisfaction with liberal urban governance and because of viral videos that supporters created with artificial intelligence.
And Democrat Nithya Raman, a former Bass ally and progressive city council member who was elected with support from the Democratic Socialists of America, is campaigning on promises to reduce inequality, revive the slumping entertainment industry and build more housing.
Bass, a former member of Congress and the first Black woman to serve as mayor, has lined up most of the Democratic establishment behind her, including former Vice President Kamala Harris and former House Speaker Nancy Pelosi, along with the city’s powerful labor unions.
If Bass or another candidate does not win a majority of the vote, the race will go to a runoff in November. Political observers say that's likely because there are 14 names on the ballot, including tech entrepreneur Adam Miller and community activist Rae Huang.
The race is unfolding at an unsettled time for LA.
The mayor is still trying to overcome fallout from her absence when the most destructive wildfire in Los Angeles history ignited in a wealthy seaside neighborhood in January 2025. Bass was on a trip to Ghana as part of a presidential delegation. Pratt lost his home in the Palisades Fire, which killed 12 people. And some say the recovery is happening too slowly.
While statistics suggest that Bass has made headway on homelessness, makeshift encampments and rows of rusting RVs remain commonplace across the city. Complaints about the rising cost of living — whether for rent, taxes or groceries — are a constant refrain. Dirty, pocked streets and sidewalks abound.
Meanwhile Hollywood jobs have been decamping for years to more affordable filming locales. Trump administration immigration raids also shook the city.
Population in the once-booming region is falling — Los Angeles County lost about 54,000 people from July 2024 to July 2025, the largest numeric population drop in the nation, according to federal figures.
Crime statistics are down, but public safety is still an issue. World Cup games begin in Southern California in June, and Los Angeles is readying to host the 2028 Olympics. The federal government spearheads security at the Olympics, but there are already concerns that the Los Angeles Police Department will not have adequate funding or personnel to hold up its end of the job.
Bass has acknowledged making missteps but argued that a drop in homelessness and a historically low homicide rate show she is making progress. “I'll keep fighting for LA,” she said.
Pratt has focused his campaign on reducing homelessness and boosting police ranks, arguing that an outsider is needed to shake up city hall. Looking to tap into voter frustration, he says he is “an Angeleno who’s had enough” and rails against “homeless drug zombies” on the streets.
He received a nod of approval — if not an actual endorsement — from President Donald Trump, who recently said, “I heard he’s a big MAGA person.”
That remark could haunt Pratt in a city where Trump is widely unpopular beyond his conservative base and Republicans account for less than 15% of registered voters.
Nithya Raman, a candidate in the Los Angeles mayoral race, waves after a news conference Thursday, May 28, 2026, in Los Angeles. (AP Photo/Gregory Bull)
Los Angeles mayoral candidate Spencer Pratt poses for a selfie during a campaign event Sunday, May 31, 2026, in Los Angeles. (AP Photo/Jill Connelly)
Los Angeles Mayor Karen Bass, center, poses for a group photo during a campaign event at SEIU 721 headquarters in Los Angeles on Saturday, May 30, 2026. (AP Photo/Scott Strazzante)
Los Angeles Mayor Karen Bass speaks at the Connect Los Angeles Conference on Thursday, May 28, 2026, in Los Angeles. (AP Photo/William Liang)
Spencer Pratt appears on "Fox & Friends" at Fox News headquarters on Thursday, May 28, 2026, in New York. (Photo by Andy Kropa/Invision/AP)
Mayor Karen Bass speaks at the Connect Los Angeles Conference on Thursday, May 28, 2026, in Los Angeles. (AP Photo/William Liang)
Spencer Pratt appears on "Fox & Friends" at Fox News headquarters on Thursday, May 28, 2026, in New York. (Photo by Andy Kropa/Invision/AP)
Los Angeles Mayor Karen Bass speaks at the Connect Los Angeles Conference on Thursday, May 28, 2026, in Los Angeles. (AP Photo/William Liang)
