CHARLOTTE, N.C. — Charlotte-based Crescent Communities has broken ground on three industrial properties totaling 1.7 million square feet. The company plans to build eight buildings across three markets known as AXIAL Crosspoint in Greenville, S.C.; AXIAL Bonds Farm in Concord, N.C.; and AXIAL 301 Manatee in Bradenton, Fla. The firm bought the project land for an undisclosed price, and the seller of the land was not disclosed.
Along with the three land transactions, Crescent Communities announced a new brand name for its industrial platform, AXIAL Industrial. The brand will first be executed through the AXIAL Bonds Farm, AXIAL Crosspoint and AXIAL 301 Manatee projects, which are all set to begin construction soon this year and are slated for completion in 2023.
“With the debut of AXIAL Industrial, we will provide our clients with a one-stop platform featuring a thoughtful and diligent process for each industrial development, from land acquisition to product development for each specific location and every stage in between,” says Bryan Blythe, managing director of AXIAL Industrial at Crescent Communities’ Commercial business unit.
AXIAL Bonds Farm will feature three rear-load buildings totaling 809,720 square feet. The property will also offer various-sized buildings with ample employee parking. The property is geared to accommodate regional, national and international users with a focus on manufacturing, assembly and last mile fulfillment.
AXIAL Crosspoint will include three rear-load buildings totaling 532,500 square feet and will feature modern clear heights and trailer parking. The buildings’ design is meant to provide flexibility to accommodate multiple occupants, catering to local and regional distribution tenants as well as e-commerce companies. The property will be anchored by BMW, Michelin and Bosch.
Lastly, AXIAL 301 Manatee will feature nearly 295,000 square feet across two buildings. The property will be designed to accommodate either single or multiple tenants for a variety of uses.
Charlotte-based Crescent Communities has a portfolio of over 22 million square feet of commercial developments in the office, industrial and life science sector, representing nearly $2.4 billion of total investment. The firm’s portfolio also includes more than 69 multifamily communities and 60 single family master-planned communities.
— Julia Sanders