Minneapolis real estate firm buys industrial property for $7.5M; more development planned here

CHARLOTTE, N.C. — Minneapolis real estate firm The Meritex Co. has snapped up another industrial property in Charlotte. It will also break ground on its final phase of development at another park it owns here.

Meritex acquired Northpark VIII, at 6509 Northpark Blvd., this month for about $7.5 million, according to Mecklenburg County real estate records. The 102,000-square-foot building is part of an industrial infill park in Charlotte's north submarket and sits between the intersection of Beatties Ford and Sunset roads, and Interstate 77. Northpark VIII is currently fully leased.

Meritex purchased the property from H&R Investments LLP, which has owned it since the early 1990s, when the building delivered.

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