Crescent Communities Completes 247,000-SF Industrial Real Estate Sale at AXIAL Bonds Farm in Concord

Crescent Communities and AEW Capital Management announced Feb. 5 the sale of a 247,000-square-foot industrial building at AXIAL Bonds Farm in Concord, North Carolina. National Kitchen & Bath Cabinetry acquired one of three rear-load industrial buildings within the 810,000-square-foot industrial campus.

Brian Crutcher and Anne Johnson with CBRE represented the seller, while Thomas Hipp with Whiteside Properties represented the buyer in the transaction. Financial terms were not disclosed.

Strategic Location Drives Industrial Real Estate Demand

The AXIAL Bonds Farm property is strategically positioned with direct access to Interstate 85 and close proximity to Interstate 485, Concord Regional Airport, Afton Ridge Shopping Center, and Charlotte Motor Speedway.

The 247,000-square-foot building features 36-foot clear heights, a rear-load configuration, and access to 174 car parking spaces. The facility's design provides versatility to serve both single- and multi-tenant users.

"This sale represents the success of our long-term vision for AXIAL Bonds Farm – to deliver thoughtfully designed, high-performing industrial space that meets real operational needs," said Brendan Pierce, President of Commercial at Crescent Communities. "Demand for modern, well-located industrial facilities remains incredibly strong in the Carolinas, and this transaction reinforces both the value of Crescent's AXIAL portfolio and the enduring appeal of the Charlotte market."

Buyer Profile

National Kitchen & Bath Cabinetry Inc. operates as a wholesale supplier of all-wood cabinetry for kitchens and bathrooms, serving builders, contractors, retailers, and designers from its showroom and distribution facility in Concord. The company manufactures and imports products directly to offer wood cabinets at competitive pricing.

Development Team

Project partners for the AXIAL Bonds Farm development included Merriman Schmitt Architects as architect, Oak Engineering as civil engineer, and Landmark Builders as general contractor. AEW Capital Management provided equity alongside Crescent Communities, while Canadian Imperial Bank of Commerce served as lender. CBRE handled leasing for the project.

Sources

Crescent Communities