Mooresville Industrial Park Trades for $135M

A Blackstone affiliate sold the North Charlotte Commerce Center in Mooresville to CBRE Investment Management for $135 million. The Charlotte Business Journal reports the deal was part of a 2.3-million-square-foot portfolio sale that also included industrial parks in two other states. CBRE IM is an independently operated affiliate of CBRE Group.

The North Charlotte Commerce Center is a three-building industrial park at 134 Serviceberry Way, 142 Serviceberry Way and 156 Exmore Road. It spans over 900,000 square feet.

Strategic Real Estate Partners developed it on behalf of Blackstone’s Link Logistics. The building at 142 Serviceberry Way is the newest — and the largest — of the three, at 723,533 square feet. It was delivered in May 2024. The other buildings are 113,000 square feet and 90,000 square feet, and were delivered in 2022 and 2023 respectively.

Connect

Inside The Story

CBRE IM

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

Order Reprints