Crescent, GTIS to Build Charlotte-Area Campus

Crescent Communities and GTIS Partners closed on the land needed to build AXIAL Commerce Station, a more than $50 million, two-building, 465,036-square-foot industrial development in Huntersville, N.C. The site is 15 miles north of Uptown Charlotte, N.C., in the high-growth North Charlotte logistics corridor.

The team will begin construction within the next several months, with delivery expected in late 2026.

The partners acquired nearly 49 acres at 12705 Commerce Station Drive in the North Charlotte logistics corridor for $7.5 million, according to the Charlotte Business Journal, which cited Mecklenburg County real estate records. The developers had previously stated the project would cost more than $50 million, CBJ reported. The development is expected to create more than 250 new jobs once it is completed.

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In addition to Crescent and GTIS, financial partners include Chuo Nittochi Group as an equity partner and the lender, United Bank. Other project partners include Evans General Contractors, Merriman Schmitt Architects Inc., as well as SeamonWhiteside, a civil engineering firm. Avison Young is the leasing broker.

Closer look at AXIAL Commerce Station

Both of the LEED-ready, institutional-quality assets, consistent with ongoing industrial real estate trends, will be tilt-up, rear-load concrete buildings and have 130-foot truck courts, LED lighting and ESFR sprinkler systems as well as approximately 2,500 square feet of office space.

Building 1 will total 327,261 square feet with a 36-foot clear height, multiple knockout panels, drive-in doors, 293 auto parking spaces and 54 trailer stalls to support distribution and logistics operations.

Building 2 will have 137,775 square feet with a 32-foot clear height, 210-by-650-foot footprint and 146 auto parking spaces.

AXIAL Commerce Station will rise along the Interstate 77 corridor, benefiting from access to major regional and national transportation networks. The site will also be supported by Charlotte Douglas International Airport, Norfolk Southern’s intermodal facility, CSX’s direct rail service to the Port of Wilmington and an inland terminal operated by the North Carolina Ports Authority.

Meeting growing logistics demand

GTIS also sees strong fundamentals in the North Charlotte market. Robert McCall, partner & head of  U.S. Industrial at GTIS Partners, said in prepared remarks the region has declining supply of  industrial space at the same time demand is increasing due to suburban population growth. He noted industrial deliveries in 2025 were approximately a quarter of the new supply in 2024 and 2023.

Based in Charlotte, Crescent has been expanding its AXIAL Industrial brand, which it launched with a rebrand in 2022. The company has executed more than $921 million in AXIAL Industrial projects. The current portfolio features 65 projects, with nearly 14.5 million square feet of completed projects and 3 million square feet of projects in development or operation.

In December, Crescent and partner Fortius Capital sold AXIAL Rapid Commerce, a recently built, 449,069-square-foot Class A warehouse in Charlotte, to Pacolet Milliken for an undisclosed price. The property is fully leased by Amazon, which will be using the rear-load asset for use as a Same-Day Delivery facility. The lease, signed in October, was one of the largest industrial deals of 2025 in the region.

The firm also completed AXIAL Bonds Farm, a three-building, 810,000-square-foot development in Concord, N.C., and AXIAL Crosspoint, a three-building, 558,000-square-foot campus in Greenville, S.C., in recent years.

GTIS, a New York-based global real estate investment firm that manages $4.7 billion in gross assets, also has investments in the Carolinas. In September 2024, GTIS and Collett Industrial started construction on the first phase of Stateline 85, a 933,120-square-foot, three-building campus in Blacksburg, S.C., within the Greenville market.