Rockpoint Expands in NC, Snapping Up Six Prime Industrial Buildings

BOSTON, MA – March 30, 2026 – In a significant move underscoring the fierce investor appetite for southeastern industrial real estate, Boston-based private equity firm Rockpoint has acquired a six-building portfolio of light industrial assets in the thriving North Carolina markets of Charlotte and Raleigh. The transaction, for which financial terms were not disclosed, adds 279,507 square feet of modern logistics space to Rockpoint's rapidly growing industrial footprint.

The portfolio includes the three-building Garner Commerce Center in the Raleigh-Durham market, totaling 128,006 square feet, and the three-building I-77 Commerce Center in Charlotte, which encompasses 151,501 square feet. This acquisition highlights a focused strategy on high-growth corridors and reflects a broader trend of institutional capital pouring into the Tar Heel State.

"These investments reflect our focus on high-quality, infill light industrial assets in select growth markets," said Fred Borges, Senior Managing Director at Rockpoint, in a statement. "The Southeast, including selected North Carolina markets, continues to show strong demand for industrial space."

The Sun Belt's Industrial Magnet

Rockpoint's move is a direct response to the powerful economic and demographic tailwinds propelling North Carolina's industrial sector. Both the Raleigh-Durham and Charlotte metropolitan areas are experiencing a period of sustained, robust growth. With strong job creation—Raleigh-Durham's nonfarm employment grew 4.1% year-over-year in late 2025, outpacing the national average—and a continuous influx of new residents, the demand for goods and the logistics infrastructure to deliver them has soared.

This demand is clearly reflected in market fundamentals. In late 2025, the Raleigh-Durham market recorded over 4.4 million square feet of net absorption, its strongest year since 2020, while asking rents climbed steadily. Charlotte's market was equally dynamic, posting nearly 6.4 million square feet of annual absorption in 2025, a staggering 67.4% increase from the prior year. This intense leasing activity is pushing rental rates to new heights, with newly constructed speculative buildings in Charlotte commanding average asking rates above $9.20 per square foot.

While a substantial pipeline of new construction exists in both markets, much of the demand is concentrated on Class A, modern facilities. This makes Rockpoint's acquisition of newly built properties—the Garner Commerce Center was completed in 2024 and the I-77 Commerce Center in 2025—a particularly strategic play.

Beyond Big Boxes: A Bet on Infill Logistics

The properties acquired by Rockpoint are not sprawling, million-square-foot warehouses in remote locations. They are classified as "trophy-quality light industrial buildings," a segment of the market that is becoming increasingly critical to the modern supply chain. These smaller, more flexible spaces located within or near dense population centers are essential for the final stages of e-commerce delivery, often referred to as "last-mile logistics."

The Garner Commerce Center, already 91% leased to 16 tenants, is strategically positioned near the I-70 and the planned I-540 extension, providing seamless access to the entire Raleigh metro. Similarly, the I-77 Commerce Center in Charlotte sits just one mile from the I-485 beltway, placing it in a premier hub for distribution across the region.

"Both Garner and I-77 are ideally located within major submarkets that are premier logistics and distribution hubs," noted Ben Harris, Head of Rockpoint Industrial, the firm's exclusive industrial operating partner. This focus on infill locations allows tenants to reduce transportation times and costs, meeting the ever-increasing consumer demand for rapid delivery.

A Calculated Expansion Strategy

This North Carolina acquisition is not an isolated venture but a continuation of a deliberate and aggressive expansion into the industrial sector by Rockpoint. Since 2020, the firm has invested in a remarkable 17 million square feet of industrial space across the United States. This latest deal follows other key acquisitions in the Southeast, including Eastport Industrial Park in Richmond, Virginia, and One Park Center in Durham, North Carolina.

Rockpoint's strategy hinges on a vertically integrated model. The firm will manage and operate the new portfolio in partnership with its affiliates: Rockpoint Industrial for operational expertise and Rockhill Management for property services. This allows Rockpoint to maintain tight control over asset performance and apply its value-add approach, which seeks to enhance properties to realize their full potential.

"We look forward to leveraging our industrial operating expertise to drive value for tenants and investors at these locations," Harris added, emphasizing the hands-on approach that differentiates the firm's strategy. This integrated platform is designed to identify and capitalize on assets the firm believes are inefficiently priced or misunderstood by the broader market, a core tenet of its investment philosophy since 1994.

A Competitive and Consolidating Market

Rockpoint is not alone in its bullish outlook on North Carolina's industrial market. The region has become a battleground for institutional investors. Just this month, Equus Capital Partners acquired the 19-building Greylyn Business Park in Charlotte for $102 million. While that portfolio consisted of older, flex-industrial assets, the transaction highlights the depth of capital seeking placement in the market.

Given the premium quality and recent construction of Rockpoint's newly acquired assets, market analysts estimate the transaction value could be between $55 million and $70 million, based on comparable sales prices for new, Class A industrial properties in the region, which can range from $200 to $250 per square foot. In this context, securing a portfolio of six modern, well-located buildings represents a significant coup in a highly competitive environment. The move solidifies Rockpoint's position as a major player in one of the nation's most dynamic and sought-after real estate sectors.