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MRP Industrial plans to construct the single-story building on a site that formerly contained a Class B, 244,000-square-foot block and metal warehouse, which collapsed from structural failure after a heavy snow storm in 2016.
“Industrial supply constraints have pushed pricing to new heights for both tenants and investors, forcing them to explore market alternatives,” JLL's Sargis states in the report
With the recent purchases of Northpark VIII and Airpark West V along with the CLT Logistics development, the company's portfolio in the Charlotte metro area is now approaching 1 million square feet.
Xenia's predecessor Inland American Lodging Group, Inc., a wholly owned subsidiary of Inland American Real Estate Trust, Inc. acquired the 14-story Residence Inn by Marriott Denver City Center and adjoining 448-space parking garage for $80 million.in April 2013.