Rockpoint Buys Charlotte-Area Industrial Park
Fortius Capital Partners sold the fully leased campus.
Rockpoint has expanded its industrial platform with the acquisition of Springs Business Park, a 119,700-square-foot campus in Concord, N.C. The company paid $26.8 million to Fortius Capital Partners, according to Cabarrus County public records.
Springs Business Park was fully leased by 15 tenants at the time of sale. Rockhill Management, the buyer’s dedicated property service affiliate, will oversee its operations and management.
The industrial complex is at 540 and 560 Pitts School Road, within the Cabarrus County submarket of the broader Charlotte, N.C., metro. The property occupies two sites totaling 11 acres, near Concord-Padgett Regional Airport.
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Fortius developed and completed the campus in two phases between 2022 and 2024. Springs Business Park includes four shallow-bay facilities with 21-foot clear heights, ranging from 23,000 square feet to 46,800 square feet.
Its location is close to Interstate 85 and 5 miles from the interchange with Interstate 485, providing access to a major regional logistics, commercial and commuter hub in the greater Charlotte area. The city’s downtown and its international airport are within 21 miles of the industrial park.
Investors scale up Charlotte industrial holdings
Charlotte’s industrial sector recorded $1.2 billion in sales year-to-date through August, a recent Yardi Matrix national report shows. Properties sold at $141 per square foot in the metro—above the $138 national average.
This year’s Queen City transactions include another Rockpoint deal. In March, the company acquired a 279,507-square-foot, six-building collection in the Raleigh-Durham and Charlotte metros. I-77 Commerce Center, a property located 11 miles from Springs Business Park, was part of the sale.
The same month, Equus Capital Partners paid $102 million for a 648,060-square-foot flex industrial campus in the metro. The seller got a nearly 122 percent premium compared to the asset’s 2015 sale price.
More recently, an affiliate of LBA Realty picked up a 10.5 million-square-foot portfolio with assets spread across 10 Southeast markets, including Charlotte. EQT Real Estate Industrial Value Fund V sold the 46-building collection.
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