Atlanta & Southeast News In Your Inbox
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Fortius Given OK for $125M Charlotte-Area Business Park
Fortius Capital Partners has been green-lighted by the City of Concord to build a 1.3 million square foot industrial project. They expect to spend up to $125 million building out the development.
The Charlotte Business Journal reports that the Concord City Council approved incentives for Concord Commerce Park, including $11.2 million worth of public infrastructure costs. That includes roadway, water and sewer improvements at and around the project site. The city also added a five-year incentives grant for Concord Commerce Park. The grant could be worth up to $2.55 million over that time, depending on the total project investment.
Concord Commerce Park would span about 160 acres near The Grounds at Concord, a massive industrial development at the former Philip Morris site (see photo). Preliminary plans for the project call for nine industrial buildings to be developed there between 2024 and 2028. The buildings would range from 84,000 to 250,000 square feet.
- ◦Development
