Charlotte-based Beacon Partners is underway on its next development phase at Carolina Logistics Park.
Construction recently began on two speculative industrial buildings at the 288-acre property in Pineville. Those new Class A facilities will offer additional distribution and manufacturing space. The buildings will be 208,819 square feet and 225,738 square feet, respectively. Construction is expected to wrap up in mid-2024.
Tim Robertson, partner at Beacon, said industrial park demand, especially at the Pineville site, remains high.
“Breaking ground on these buildings reflects our conviction in this location and type of product that will cater to a variety of users," he said.
It follows the completion of three buildings at the park, totaling more than 900,000 square feet. Those buildings are fully leased. Carolina Logistics Park is expected to include up to 3.6 million square feet of industrial space upon full buildout.
In June, W.W. Grainger Inc. (NYSE: GWW) signed a lease to fully occupy a building just over 525,000 square feet at the industrial property, according to previous CBJ reporting. The building delivered earlier this year and will be home to a bulk warehouse facility for Illinois-based Grainger. The industrial supply company expects the facility to be fully operational next year.
Other major tenants at the industrial property include Amazon.com Inc. (NASDAQ: AMZN), which operates a 1 million-square-foot facility there, and Carolina Foods.
Beacon's plans to develop the park were approved by the town of Pineville in July 2020. The Charlotte-based developer bought the land for the project in September that year.
Robertson, on behalf of Beacon, is handling leasing for the industrial park. The project team includes The Conlan Co., Merriman Schmitt Architects and Osborn Engineering Group.