Charlotte Pipe and Foundry Co., EPRI Acquire Industrial Properties in Charlotte; NC to Host New Facebook Data Center
- Oct 14, 2011
Charlotte Pipe and Foundry Co., a producer of Cast Iron, PVC, ABS and CPVC pipe and fittings for plumbing and industrial systems, has purchased 18.4 acres off West Morehead and South Clarkson Streets, for $21.6 million.
The site, an undeveloped parcel inside the Interstate 277 loop, was owned by Beazer Homes USA Inc., a real estate developer headquartered in Atlanta. The Charlotte Observer reports that the home builder had bought the property in 2005 for $16.7 million with plans to build a major mixed-use development that never came to fruition due to the unfavorable economic climate. Charlotte Pipe and Foundry took the opportunity to purchase the property, especially attracted by its proximity to one of its plants on South Clarkson Street.
In other news, The Electric Power Research Institute (EPRI), an independent, non-profit company performing research, development and demonstration in the electricity sector for the benefit of the public, recently announced the acquisition of a 24-acre parcel next to its research facility at the University Research Park in Charlotte that includes 108,000 square feet of office and lab space. The company plans to expand its research operations by adding 15,000 square feet to its laboratory facilities and providing space for future workforce growth.
The Palo Alto, Calif.-based institute bought part of the former Verbatim floppy-disk manufacturing plant from Paragon Media LLC for a reported $5 million; renovations are scheduled to be complete by next fall, as reported by the Charlotte Observer.
In other regional news, Forest City might soon be home to Facebook’s new three-building data center to serve the Eastern U.S. and Europe. With such a rapid growth recorded over the last few years and more than 800 million active users, the company needed more space to house its servers. The $450 million, energy-efficient data center will be located about 75 miles west of Charlotte, in Rutherford County, and will create 42 new jobs. The first building is scheduled to go online in March 2012, according to the Charlotte Observer.