“Charlotte’s highly skilled and growing workforce and business-friendly environment make it attractive to businesses, and its industrial market remains one of the most sought-after and competitive markets in the southeastern U.S.,” said Matt Gregory at MDH Partners. “We’re excited to deliver two more buildings to the park and help facilitate Charlotte’s continued economic growth. These buildings were designed to accommodate a variety of tenant types and sizes, from 20,000 to 250,000 square feet, and each building is equipped with roughly 3,000 square feet of office and LED lighting throughout the warehouse to enable tenants to move in and begin operations quickly.”
In August 2023, MDH Partners secured $23.3 million in financing from TD Bank for the development of Northcross Commerce Center’s Phase II. Totaling approximately 254,000 square feet, Phase II consists of two Class-A light industrial buildings, 160 and 200 feet deep, and 24 to 32-foot clear heights respectively. Situated on Jamesburg Drive, the project is strategically located less than two miles from I-77, providing direct access to the entire Charlotte MSA, and less than 20 miles from Uptown Charlotte, I-85 and the Charlotte International Airport.
Brad Cherry, Executive Managing Director for JLL, adds, “Northcross’s proximity to decision-makers in the Lake Norman area and its connectivity via HWY 73 to I -77 and I-85, makes it an ideal location for distribution and light manufacturing businesses serving the growing Charlotte market.”
Continuing its leadership in sustainability, MDH’s Northcross Commerce Center Phase I and II were developed using CarbonCure-based concrete. The CarbonCure technology introduces post-industrial carbon dioxide into concrete, yielding a low-carbon concrete that provides, on average, a 4-6% reduction to the Global Warming Potential. MDH Partners is among the first industrial developers to adopt CarbonCure-based concrete.
According to JLL, Charlotte’s speculative development deliveries have remained strong, with 6.3 million square feet of space completed in the first half of the year. Charlotte’s industrial market’s combination of stability, consistent growth and proximity to other prominent markets will continue to make it an appealing destination for both tenants and investors in the Southeast region.
In addition to Northcross Commerce Center, MDH Partners jointly owns Oakhurst Commons with Parkside Partners. The 131,000-square-foot, mixed-use development is located in Charlotte’s Oakhurst neighborhood. MDH Partners currently owns or manages approximately 24 million square feet across 30 markets in 18 states.
About MDH Partners
MDH Partners is an Atlanta-based real estate investment company managing its discretionary funds targeting industrial real estate across the United States on behalf of its institutional investors. Founded in 2005 as the successor to a fifty-year-old local real estate development company, MDH Partners has led and/or participated in over $7 billion (92 million square feet) of acquisitions, developments, and asset management as an advisor and investor. For more information, visit www.mdhpartners.com
