Argosy Real Estate Partners Acquires Opportunity Zone Site for the Development of WestEnd Logistics in Gastonia, NC (Charlotte MSA)
We are pleased to announce that Argosy Real Estate Partners, in partnership with Tectonic Real Estate and Tribek Properties, has acquired an approximately 23-acre site for the development of WestEnd Logistics, a 188,604 sf Class-A industrial project. The fully entitled site is located in Gaston County, one of the most in-demand industrial submarkets in the Charlotte MSA, according to CoStar.
Upon completion, the project will be comprised of a 188,604 sf (674’ width x 280’ depth) standalone building with rear-load configuration, 32’ clear height and 130’ truck court depth. The business plan is to deliver flexible space that can be leased to a single tenant or divided into 50,000-100,000 sf for multiple tenants. The project is within immediate proximity to I-85, providing excellent access both east to Charlotte and west to Spartanburg, Greenville and Atlanta. The investment provides the opportunity to deliver a Class-A industrial property in a high barrier-to-entry market at a competitive cost basis, while obtaining the benefits of investing within a Qualified Opportunity Zone.
The investment was made in partnership with Tectonic Real Estate and Tribek Properties, two Charlotte-based firms. Tectonic Real Estate is a developer and owner of industrial properties across the southeast. Tribek Properties is a development company focused on industrial properties.