Business

Foundry Commercial plans industrial park in Huntersville

Dec. 26. Foundry Commercial has purchased 48 acres in the Bryton Town Center project where it will build a six-building, 700,000 square-foot light industrial complex. Construction on the first phase of the project, a joint venture with the global investment management business of Prudential Financial, will begin in early 2018.

Located off Hambright Road in the northeast quadrant of the Interstate 77 and I-485 interchange, Bryton Commerce Center will feature 30-foot ceilings, sprinklers and an average office finish of 30 percent. The buildings will have a glass-heavy exterior, modern architectural accents, high-end finishes and high parking ratios.

Bill Simerville, managing director of Foundry Commercial’s Charlotte office, said there have been virtually no major light industrial projects in the last 10 years, resulting in tightening vacancy and increasing rental rates.

“We believe there is pent-up demand from both existing and new to market users,” says Simerville. “With the explosive population growth in Huntersville, access to a deep, highly skilled workforce is a driving factor in the corporate decision making process.”

Foundry anticipates interest from R&D users, European-based light assembly and manufacturing companies, and a possible connection to the homebuilding industry given the proximity to Lowe’s corporate headquarters.

The Bryton Master Plan includes more than 1 million square feet of retail and 1 million square feet of corporate product to complement the existing and future multifamily and residential projects.

Bryton Commerce Center is Foundry’s third industrial development in Charlotte this year. Earlier this summer, the commercial real estate firm broke ground on WestPark 85, a 1.1 million-square-foot industrial development located in Charlotte’s Airport West submarket, and Steele Point, a 25-acre assemblage containing 370,000 square feet of industrial development in the Southwest submarket. Foundry has a total of seven industrial projects totaling more than 6 million square feet under development at this time located throughout Florida

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