Meritex Breaks Ground on the Final Phase of Its Infill Industrial Development by CLT International Airport in Charlotte
CHARLOTTE, N.C.--(BUSINESS WIRE)--Dec 4, 2018--The Meritex Company is developing two additional speculative industrial buildings at CLT Logistics Center, located near the Charlotte Douglas International Airport. The project is the final phase of a larger plan to develop three buildings on the site. Meritex recently completed construction this year of a 79,420-square-foot, Class A, multi-tenant industrial building.
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CLT Logistics - Charlotte, NC (Photo: Business Wire)
“This development site is irreplaceable and strategically located adjacent to the airport providing excellent access to the airport cargo, intermodal, highways, and downtown Charlotte,” says Matt Wagner, director of acquisitions at Meritex. “The new buildings and our existing business park attract a diverse tenant base because of its unique location and amenities that serve companies in distribution, freight forwarding, last-mile solutions, light industrial, manufacturing, tech and R&D sectors,” says Wagner.
The two new buildings will be called CLT Logistics Building II and III and will contain approximately 135,024 square feet of new modern space for industrial users. The buildings will feature 32’ clear heights, efficient column spacing, LED lighting with motion sensors, ESFR sprinkler system, high dock ratio count, pit levelers, abundance of natural light with clerestory windows, ample trailer storage, and 60’ speed bays. The buildings are anticipated for completion in Summer 2019.
“We have designed these buildings with the future in mind,” says Wagner. “We plan to provide modern amenities and a finish level with a higher standard to accommodate overall user demand and the changing needs of tenants in the market.” Meritex plans to build out office space in the buildings that will feature 12’ office ceilings, open floor plans with polished concrete floors and upgrade interior finishes.
Once Buildings II and III are completed, the CLT Logistics Center will comprise of a 14-building business park with almost 800,000 square feet of industrial space, which is currently seeing strong leasing activity. Additionally, the development at the CLT Logistics Center will bring the company’s footprint to nearly one million square feet of industrial product in the Charlotte metro area.
“Charlotte continues to be an attractive market for us as its supported by strong demand drivers,” says Wagner. “We plan to continue our growth in the near term, with the goal of growing our portfolio in excess of two million square feet.”
Meritex first entered the Charlotte market in mid-2016 with the acquisition of the 11 building, 583,021-square-foot, Class A property known as CLT Logistics Center. The initial purchase also included 14 acres of available land, which is currently under development. The business park contains more than 40 local, national and international tenants with a wide range of suite sizes from 1,500 sq. ft. to 40,000 sq. ft. The property is currently 97 percent leased.
About The Meritex Company is the expert in putting properties and people together, offering the flexibility and innovation of a family-owned company, with the discipline and governance of a much larger business. With more than a century of experience providing light industrial real estate to companies at every stage of their growth, Meritex offers spaces that allow businesses to grow, evolve, and redefine themselves as needed. Meritex owns, develops and manages approximately 11 million square feet of institutional grade, multi-tenant space made up of more than 90 properties, ensuring that each is capable of meeting the demands of its dynamic tenant base. The broad selection in eight markets – Atlanta, Charlotte, Columbus, Houston, Indianapolis, Kansas City, Minneapolis-St. Paul and Phoenix – means companies will find the right place to take care of business, while receiving responsive service and great solutions for their space needs, now and into the future. The Meritex Company is headquartered in Minneapolis.
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CONTACT: Deb Berger
The Meritex Company
KEYWORD: UNITED STATES NORTH AMERICA NORTH CAROLINA
INDUSTRY KEYWORD: TRANSPORT AIR ARCHITECTURE URBAN PLANNING CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
SOURCE: The Meritex Company
Copyright Business Wire 2018.
PUB: 12/04/2018 05:21 PM/DISC: 12/04/2018 05:21 PM