The lease signed by the subsidiary of Taylor, MI-based Masco Corp. is the largest of its kind in the Charlotte metropolitan area this year, according to Steve Kanoff, executive vice president and partner of Dallas-based Westmount Realty Capital LLC, which owns Logistics Pointe in cooperation with Yucaipa Cos. of California. The owners rebranded the 66-acre complex at 2401 Nevada Blvd., which was previously occupied by Jacksonville-based Winn-Dixie Stores Inc.
"The Logistics Pointe name has taken hold in the market," Kanoff tells GlobeSt.com, adding that several other firms have moved into the facility since it was turned into a multi-tenant site in mid-2006. Remaining space includes 113,461 square feet of "dry" warehouse space and 191,239 square feet of freezer/cooler space, he says.
Kanoff says Westmount Realty is confident that it will lease up remaining space at Logistics Pointe. "Charlotte is one of the best distribution markets in the country, and with the PFS lease we have pretty much all long-term leases," he says. "We're very optimistic."
Masco acquired Precision Framing, a manufacturer of roof trusses and wall systems for the residential market, earlier this year and is in the process of relocating operations to Charlotte from Montgomery, IL. It is unclear how many employees will make the move. Masco posted nearly $11.8 billion in sales last year and has 52,000 employees in the US and Europe.
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