Foundry Commercial Acquisition of Multi-Tenant Flex Industrial – Charlotte

Deal value: $21,500,000

Foundry Commercial acquired a 72,000 SF multi-tenant flex industrial building in Charlotte, NC, with 25% office, 75% warehouse, serving local distribution and service firms.

Foundry Commercial's acquisition strategy in Charlotte reflects a broader institutional bet on the Southeast's industrial real estate fundamentals, particularly the conversion of underutilized office assets into flexible, multi-tenant industrial space. The timing capitalizes on post-pandemic flight-to-quality dynamics, where Class-A industrial product commands premium rents amid supply constraints. The 72,000 SF flex format with mixed office-warehouse configuration addresses the region's demand from R&D users, light assembly, and service firms seeking operational flexibility. This aligns with Foundry's platform strategy of acquiring necessity-based, income-producing assets across the Southeast and Texas, where the firm manages 70 million square feet of space.