New Industrial Park to Bring New Opportunities to Cabarrus County
Fortius Capital Partners made an exciting announcement in September 2018 about a new industrial development that will be constructed at 700 Pitts School Road NW in Concord, North Carolina. The new development, named Meadows Corporate Park, will comprise of two multi-tenant industrial buildings with excellent access and exposure to I-85.
“Fortius’ development will provide space for new and expanding businesses to locate and provide quality jobs,” said Concord Mayor Bill Dusch. “Our City’s support of this investment will lead to new jobs, a broader tax base, and a stronger economy.”
Through its affiliate, Fortius-Richardson, LLC, the company will deliver approximately $9,900,000 in new tax investment in Cabarrus County. The Cabarrus County Board of Commissioners and Concord City Council has also supported and approved a three-year performance-based tax incentive totaling $181,764 for Cabarrus County and $121,176 for the City of Concord.
“This speculative development partnership with Fortius serves an identified gap in our industrial marketplace,” said Cabarrus Economic Development Executive Director Robert Carney. “The access, visibility and layout make this a fantastic industrial offering for the market. We look forward to the opportunities this development will create.”
As of February 2019, developers are in the process of grading the site where Meadows Corporate Park will be located. They hope to go vertical with the buildings in the next month if weather permits.
Fortius – Richardson, LLC is a partnership between Fortius Capital Partners, Richardson Properties, and Windsor Commercial. Fortius Capital Partners is a Concord-based, investment and development company led by Harris Morrison. Richardson Properties is a private real estate company that seeks to create wealth for its shareholders and investors through the development or acquisition of high-quality assets in strategic locations. Windsor Commercial is a real estate development and construction firm based in the Piedmont Triad. Bryan Crutcher and Anne Johnson of CBRE Charlotte will handle leasing for the project.