XPO Logistics Signs Lease to Fully Occupy Large Statesville Industrial Building
An industrial building of well over half a million square feet in the Charlotte region has been fully leased.
XPO Logistics has signed to occupy a 639,800-square-foot industrial building in Statesville for its operations. The building, at 2203 Sherrill Drive, is just off U.S. Highway 70 and less than two miles from Interstate 77.
The facility has housed several tenants since it was constructed in 1999. Past tenants include Elmer’s Products Inc., Ozburn-Hessey Logistics and La-Z-Boy furniture.
The building includes two sections, one of 288,000 square feet and another of 351,800 square feet. The smaller section has clear heights of 30 feet, while the larger one has 36-foot clear heights. It also has 8,000 square feet of office space as well as 195 trailer parking spaces and 112 car parking spaces.
Cushman & Wakefield’s Matt Treble, Fermin Deoca and Eric Ridlehoover brokered the lease on behalf of the owner, Lexington Realty Trust. Financial terms of the lease were not disclosed.
The building last sold in 2006 for $20.5 million, according to Iredell County real estate records.
XPO is headquartered in Connecticut and has existing operations in Charlotte and Statesville, according to its website. It has also a strong presence in High Point. The supply chain company ranks among the region’s largest logistics companies, according to the Charlotte Business Journal‘s most recent list on the subject.
Source: Huguley, Collin, Charlotte Business Journal, 15, June 2021, “XPO Logistics signs lease to fully occupy large Statesville industrial building”, https://www.bizjournals.com/charlotte/news/2021/07/15/xpo-logistics-statesville-industrial-lease.html