Meritex Co. Nears Completion of Charlotte Industrial Project
- Dec 06, 2018
The Meritex Co. has broken ground on the final phase of its development in Charlotte, N.C. Dubbed CLT Logistics Center, the firm is building two additional properties at the site. Located near the Charlotte Douglas International Airport, the finished project will include three buildings, the first of which was a 79,420-square-foot asset completed earlier this year.
The two properties will be named CLT Logistics Building II and III, totaling 135,024 square feet. Building features will include 32-foot clear heights, LED lighting with motion sensors, a high dock ratio count, natural light with clerestory windows, 60-foot speed bays, efficient column spacing, an ESFR sprinkler system, pit leveler and ample trailer storage. The firm will also build out additional office space featuring 12-foot ceilings, concrete floors, open floor plans and upgraded interior finishes. Completion for both assets is scheduled for the summer of 2019.
Room for growth
The finished CLT Logistics Center will encompass 14 buildings totaling nearly 800,000 square feet. This will bring the company’s footprint to nearly 1 million square feet of industrial space within the Charlotte metro. The Meritex Co. first entered the market back in 2016, when it purchased the 11-building CLT Logistics Center. The 583,021-square-foot property also came with 14 acres of land, which is where these new buildings are being constructed. The assets are currently 97 percent leased.
“This development site is irreplaceable and strategically located adjacent to the airport providing excellent access to the airport cargo, intermodal, highways and downtown Charlotte,” said Matt Wagner, director of acquisitions at Meritex, in a prepared statement. “The new buildings and our existing business park attract a diverse tenant base because of its unique location and amenities that serve companies in distribution, freight forwarding, last-mile solutions, light industrial, manufacturing, tech and R&D sectors.”
Image courtesy of The Meritex Co.