A three-building industrial park just off Interstate 77 in Mooresville has changed hands for $135 million, adding a fully leased, nearly 900,000-square-foot logistics complex to the growing portfolio of a major institutional investor. The buyer, CBRE Investment Management, picked up North Charlotte Commerce Center at 134 Serviceberry Way, 142 Serviceberry Way, and 156 Exmore Road as the North Carolina piece of a much larger East Coast acquisition spree.
The Mooresville purchase was one piece of a six-building, 2.3 million-square-foot logistics portfolio CBRE Investment Management acquired on behalf of a separate account client, according to Commercial Property Executive. That broader deal also swept in properties in Central New Jersey and Georgia, including a 772,000-square-foot distribution facility at 61 Station Road in Cranbury, New Jersey, and the two-building, 569,000-square-foot White Oak Logistics Center in Austell, Georgia. Every property in the portfolio, including the Mooresville buildings, features clear heights ranging from 32 to 40 feet along with ESFR sprinkler systems.
As reported by The Real Deal, CBRE Investment Management paid $135 million specifically for the Mooresville portion, buying from a Revantage-linked entity tied to Blackstone's Link Logistics portfolio. Per the Charlotte Business Journal's reporting cited in that account, CBRE Investment Management has had its eye on Charlotte for some time. The park sold at 100 percent occupancy, a detail the outlet's sourcing ties directly to why the property drew institutional interest.
How the Park Filled Up
North Charlotte Commerce Center was built by Atlanta-based developer Strategic Real Estate Partners in partnership with Blackstone's Link Logistics, with plans for the three-building, 900,000-square-foot complex first announced in September 2022. The two smaller buildings delivered between November 2022 and October 2023, according to the Iredell Economic Development Corporation. The largest structure, Building 1000 at 142 Serviceberry Way, was completed in May 2024 as a Class A cross-dock facility with 40-foot clear heights, 176 dock-high doors, four drive-in doors, and 334 parking stalls spread across a 50.76-acre site, per specifications listed on LoopNet. The building also includes a 195-foot truck court with direct connectivity to Interstate 77.
Carolina Beverage Group now occupies the entirety of that 723,533-square-foot building, having expanded from an initial 387,200-square-foot lease to take over the full space, the Iredell EDC reports. The beverage manufacturer runs its flagship production facility less than a mile away in Mooresville, making the site a natural fit for its operations. The two smaller buildings in the park are leased to Battle Copacking at 134 Serviceberry Way and Quantum Machinery Group at 156 Exmore Road.
A Tight Market for Big-Box Space
The sale lands as Charlotte's industrial market braces for a wave of lease expirations tied to pandemic-era leasing commitments. Cushman & Wakefield research published in March put the figure at 46.1 million square feet of industrial leases across the region set to expire between 2026 and 2031, with expirations peaking at 10.8 million square feet in 2028. That looming crunch, according to the Charlotte Business Journal's reporting, means potential tenants will soon be competing for the same space in numbers much larger than normal, and market users need to begin searches for updated space or lease renewals much earlier than they might have in the past. The scarcity of large-format big-box space is expected to keep existing tenants in place for bigger leases rather than risk losing ground in a tighter market.
Local infrastructure limits are compounding that squeeze. Mooresville enacted a temporary development moratorium in April on approvals tied to the South Iredell wastewater pump station after rapid regional growth outpaced local sewer capacity, as Hoodline reported in its coverage of the sewer freeze. With new ground-up industrial construction constrained in the near term, fully leased, recently delivered assets like North Charlotte Commerce Center along the I-77 corridor become more valuable to institutional buyers seeking stable, income-producing properties without the risk of vacancy.
Link Logistics' Regional Footprint
The seller in the transaction, Link Logistics, was formed by Blackstone in 2019 and now holds a national portfolio exceeding 520 million square feet across 3,400 properties. In the Charlotte metro alone, the firm counts 66 properties totaling 9.9 million square feet, according to Link Logistics. The firm has partnered with Strategic Real Estate Partners on multiple industrial developments across the Charlotte region beyond just the Mooresville park.
CBRE Investment Management's East Coast buying spree did not stop with the Mooresville deal. Separate from the six-building portfolio, the firm also picked up Peppermill Logistics Center, a 107,000-square-foot Class A facility in Glen Burnie, Maryland, fully leased to Pandora Jewelry, which relocated its distribution hub there in late 2025. Taken together, the acquisitions point to an institutional investor betting heavily on fully occupied, well-located logistics real estate along the Eastern Seaboard at a moment when tenants have fewer options and less room to negotiate.
Public safety context also surrounds the Mooresville property. Mooresville Police officers responded to 142 Serviceberry Way in June, arresting a 36-year-old Texas man on charges of assault with a deadly weapon inflicting serious injury with intent to kill following a shooting on the site that left a 46-year-old man hospitalized with serious injuries.
