Meritex buys CLT Logistics Center for $46.25m

The real estate investment company last Wednesday purchased CLT Logistics Center, located just south of the Charlotte-Douglas Airport in North Carolina.    Minneapolis-based real estate investment company Meritex purchased CLT Logistics Center last Wednesday for $46.25 million, according to CBRE Group, Inc.
   CBRE Group represented the seller, Minnetonka, Minn.-based Carlson Real Estate, in the transaction.
   Situated just south of the Charlotte-Douglas Airport in North Carolina, the CLT Logistics Center consists of a 583,021-square foot business park and 14.87 acres of additional land. The center features high dock-door counts that exceed market average, large truck courts and wide truck entrances, CBRE Group added.
   “The properties are currently 91 percent occupied by 30 tenants,” Meritex Chief Operating Officer Arvid Povilaitis said.
   Anchor tenants include Bimbo Bakeries, FedEx and DC74 Data Centers, according to CBRE Group.
   “Our market research has consistently identified Charlotte as a prime market for investment,” Meritex Chief Investment Officer Dan Williams said. “The CLT Logistics Center comes with a sizable and diverse array of highly functional assets and excellent tenants. It also provides us with the opportunity to develop up to three modern industrial buildings totaling 200,000 square feet on the adjacent land site.”