
Metro 63
5700 Royce Street, Kannapolis, NC, 28083, US
70,228 sm
On behalf of Ownership, Jones Lang LaSalle Americas, Inc. ("JLL") has been retained as the exclusive sales representative for North Commerce Center (the "Portfolio"), a 195,384 square foot Class A logistics portfolio delivered in 2024 by Crow Holdings Industrial in the Charlotte, North Carolina MSA. The offering is 100% leased to two (2) tenants with 7.1 years of WALT, providing in-place cash flow with robust consistent yield growth courtesy of 3.7% blended average annual escalations. North Commerce Center’s two (2) buildings sport efficient 200-210'-deep rear-load configurations with 32’ clear heights, ESFR sprinklers and LED lighting with motion sensors, as well as a shared 190’-deep truck court with
25 trailer parking spaces.
Situated at an advantageous distribution location in the suburb of Cornelius, North Commerce Center benefits from close proximity to I-77, the primary north/south artery connecting the affluent northern communities of the MSA to the Charlotte city center. The facilities access the Lake Norman area, one of the largest concentrations of decision-makers and a top residential location for high-net-worth individuals in the Charlotte metro region.
IN-PLACE CASH FLOW WITH STRONG CONSISTENT YIELD GROWTH
• 100% leased to two (2) tenants, Belden USA (85,134 SF; NYSE: BDC) and Registix, LLC (110,250 SF) with 7.1 years of WALT
• Favorable cash flow growth profile with in-place rents increasing by a blended 3.7% annually, providing robust predictable yield expansion
• Advantageous renewal option language providing for multiple Fair Market Value (FMV) extensions at the greater of FMV and increase over prior
BEST-IN-CLASS LOGISTICS AND DISTRIBUTION DESIGN PROFILE
• Rear-load configurations serviced by shared 190’-deep truck court with 25 trailer parking spaces – a rare addition for small-format product
• 32’ clear heights with ESFR and LED lighting with motion sensors
• Multiple storefronts with double-row auto parking to support future multi-tenant leasing configurations
ADVANTAGEOUS LOGISTICS LOCATION
• Situated at a distribution location in Cornelius, North Carolina, one of the primary suburbs of the affluent Lake Norman area – one of the hotspots for high-net-worth
individuals and decision-makers in the MSA
• Situated less than three (3) miles from multiple I-77 exits, providing access to the primary north/south artery of the Charlotte metro area
• I-77 offers connectivity to the I-40 corridor to the north and I-85 to the south, enhancing regional logistics access to nearly 2.9 million consumers in a one (1)-hour drive time
ECONOMIC DYNAMISM OF LAKE NORMAN AREA
• Proximate to Birkdale Village, a dynamic live-work-play master-planned development in neighboring Huntersville that just announced an additional $200 million mixed-use expansion
• Healthcare giant Atrium Health is nearing completion on Atrium Health Lake Norman, a 171,000 square foot hospital campus that is located less than two (2) miles away on US 21
• The median household income of the city of Cornelius, North Carolina is $128,792, approximately 50% higher than the Mecklenburg County average ($85,933)
• Household density per square mile in the city of Cornelius is more than 20% higher on average than the rest of the county, preserving the last-mile distribution capabilities of the Portfolio