Westcore has expanded its industrial portfolio with the purchase of a large warehouse in Kannapolis, acquiring the Metro63 Logistics Center from developer Trammell Crow. The 755,000-square-foot facility traded for $80.2 million and is fully occupied by a single tenant, Momentec, a sports apparel business.
The property, located at 5700 Royce St. and branded as Metro63 Logistics Center, was delivered in late 2022. Built as a modern logistics asset, it has attracted a single-tenant user in Momentec, which operates its sports apparel business from the building. The acquisition adds a recently delivered, fully leased industrial asset to Westcore’s holdings.
The Charlotte Business Journal reports that the Metro63 Logistics Center trade ranks among the largest industrial investment sales in the region so far this year, underscoring investor interest in large-format logistics facilities in and around the Charlotte market. The combination of recent delivery, scale and single-tenant occupancy positions the Kannapolis property as a notable institutional-caliber asset.
The Metro63 transaction joins several other significant industrial trades in the broader region this year. Link Logistics purchased an 876,587-square-foot industrial building at 1500 Delta Drive in Gastonia for $81.7 million. CBRE Investment Management acquired the North Charlotte Commerce Center in Mooresville for $134.7 million. In another sizable deal, BentallGreenOak bought an 851,500-square-foot industrial facility at 2087 Williams Industrial Blvd. in Rock Hill for $101.5 million.
Taken together, these transactions highlight sustained buyer appetite for large distribution and logistics facilities across multiple submarkets surrounding Charlotte, with investors deploying nine-figure capital into both single assets and multi-building complexes. The Kannapolis acquisition fits alongside these other trades in signaling ongoing institutional activity in the regional industrial investment market.
Westcore, the buyer of Metro63 Logistics Center, is a commercial real estate investment firm focused on industrial properties. According to information on its website cited in the source report, the firm has completed $14 billion in transactions across 1,750 buildings totaling 150 million square feet since its founding in 2000. The latest Kannapolis transaction continues its focus on scaling an industrial platform through acquisitions of sizable logistics assets.
