Meritex Grabs Charlotte Industrial Asset

The new owner plans to begin a capital improvement program to reposition the vacant building in the city’s Airport/West submarket.
Airpark West V in Charlotte, N.C.

The Meritex Co. has picked up Airpark West V, a 100,286-square-foot industrial asset in Charlotte, N.C. The seller, a private investor, traded the vacant building for $7.2 million, according to Mecklenburg County records. Colliers International represented the buyer in the transaction.

Located at 8610 Airpark W. Drive, the structure is part of the larger Air Park West Industrial Park. The building sits within a mile of Interstate 85 and U.S. Highway 29, providing easy access to the nearby Charlotte Douglas International Airport and the wider region.

Planned repositioning

Built in 2004, the facility underwent an expansion in 2007 under previous ownership. The building features 24-foot clear heights, nine loading docks with levelers and seals, two drive-in doors and a 125-foot fenced truck court. Additionally, the property offers 18,433 square feet of office space. Meritex plans to begin major capital improvements on the asset by adding extra loading doors, energy-efficient lighting and a new HVAC system as well as renovating the office space.

“Rather than design to a specific need, we work to ensure all Meritex properties combine functionality with flexibility, designing spaces in such a way that we can anticipate and accommodate needs in a variety of ways—and be ready to evolve even further forward,” said Ray Kivett, chief investment officer of Meritex, in a prepared statement.

The owner has selected Foundry Commercial to oversee leasing and management for the building.

Image courtesy of The Meritex Co.