Northpark VIII is a fully-leased, 102,000-square-foot industrial building in Charlotte, NC.
CHARLOTTE, NC—Industrial real estate firm The Meritex Co. is increasing its footprint in the Charlotte area with the acquisition of the fully-leased Northpark VIII building.
The acquisition of the 102,000-square-foot building shorty follows the announcement by the Minneapolis-based company of the final phase of a development project near the Charlotte Douglas International Airport, known as CLT Logistics Center. No terms of the transaction were released.
Northpark VIII is located in an established infill industrial park six miles north of Downtown Charlotte, and approximately 11 miles from Charlotte Douglas International Airport. Justin Smith and Rob Speir of Colliers International represented Meritex in the acquisition. Foundry Commercial in Charlotte has been engaged for property management services for Northpark VIII.
“We were attracted to Northpark VIII because of its unique infill location and overall building functionality,” says Matt Wagner, director of acquisitions at Meritex. “The immediate access to I-77 and its close proximity to I-485, downtown Charlotte, amenities, and labor force position this building for long-term success.”
Northpark VIII is located at 6509 Northpark Blvd. within the Northpark Business Park in Charlotte. Originally built in 1994, the building features 24' clear height, an ESFR sprinkler system, high dock ratio count and ample parking. The property is currently fully leased to a long-term tenant; however, it was designed with multiple storefronts and an extended glass-line to accommodate multiple users if needed, Meritex reports.
Since making its first acquisition in the Charlotte market in 2016, Meritex has steadily grown its presence in the area. With the recent purchases of Northpark VIII and Airpark West V along with the CLT Logistics development, the company's portfolio in the Charlotte metro area is now approaching 1 million square feet.
Meritex owns, develops and manages approximately 11 million square feet of institutional grade, multi-tenant space made up of more than 90 properties in eight markets—Atlanta, Charlotte, Columbus, Houston, Indianapolis, Kansas City, Minneapolis-St. Paul and Phoenix.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
