Rockpoint Buys 4-Building Industrial Park in Charlotte, N.C., Submarket
Boston-based real estate private equity firm Rockpoint and exclusive operating partner Rockpoint Industrial recently announced the acquisition of Springs Business Park, a four-building industrial property in the Charlotte submarket of Concord, N.C.
According to statements released regarding the transaction, the business park was fully leased at the time of sale and is home to 15 tenants.
The four-building industrial property incorporates 119,700 square feet of Charlotte industrial space and spans two sites totaling 11 acres that are separated by a public right-of-way.
Developed in two phases from 2022 to 2024, the property consists of purpose-built shallow-bay light industrial buildings that range in size from 23,000 to 46,800 square feet. The buildings feature a variety of depths, clear heights, and loading access (including both drive-in and dock-high loading), and offer the flexibility to serve a wide variety of tenants and configurations.
What’s more, Springs Business Park is located less than 2 miles from Interstate 85, five miles from the Interstate 85 and Interstate 485 interchange, and a 30-minute drive away from Uptown Charlotte, a strategic location that provides convenient access to the major Southern U.S. metropolitan market that is home to 2.9 million residents.
“Properties like Springs Business Park offer flexibility to serve a diverse tenant base, making them more resilient through market cycles,” said Ben Harris, head of Rockpoint Industrial. “We believe that Charlotte’s strong economy and strategic East Coast location, with access to interstate highways, rail, and airports, position this property for long-term value.”
“This acquisition supports Rockpoint’s conviction that well-located industrial assets can create attractive long-term investment opportunities,” said Fred Borges, a senior managing director at Rockpoint. “We believe that the stable tenant base at Springs Business Park demonstrates the value of industrial assets in a growth market like the greater Charlotte area and enables Rockpoint to achieve greater market-level scale, supplementing our existing industrial assets across North Carolina.”