Michelin leases Beacon Partners property

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CHARLOTTE – Michelin North America Inc. has leased a 345,545-square-foot distribution facility in Twin Lakes Business Park, a 500-acre, master-planned park in North Charlotte.

The 9801 Twin Lakes Parkway building, built on 20 acres off Statesville Road near Interstates 77 and 485, will serve as an additional distribution plant to support Michelin’s aircraft tire manufacturing facility in Norwood.  Michelin will begin consolidating their New London distribution facility into Twin Lakes later this month, with plans to open by the end of the year, according to a news release from Beacon Partners, which owns and leased the property.

The company’s need for additional distribution space is being driven by increased growth within the Michelin Global Aircraft Tire Division. Michelin North American headquarters are in Greenville, S.C., according to the news release.

The Class A building, which had been fully occupied since it was built in 1991, was vacated by Ingersoll Rand in May 2013. Beacon Partners, a Charlotte-based commercial real estate development firm, bought the property for $11.4 million in June, according to county records, and signed the initial lease with Michelin in August.

“Expanding our portfolio with a quality customer like Michelin and a quality asset like 9801 Twin Lakes validates our belief that the Charlotte region and the Carolinas are ripe for industrial growth,” said Jon Morris, industrial real estate partner at Beacon, in the release. “We look forward to a continuing upswing in market momentum.”

Trey Pennington with CBRE Greenville and Anne Johnson with CBRE Charlotte represented Michelin and Tim Robertson and Jon Morris of Beacon Partners represented Beacon.

Beacon closed on more than 1 million square feet in four transactions over the past year. Beacon Partners specializes in the development, leasing and management of office and industrial properties, and leases and manages more than 8.5 million square feet throughout the Carolinas.