News
Charlotte, NC (Jan. 27, 2026) – Foundry Commercial, in partnership with Principal Asset Management®, has closed on the sale of 74 Junction, an approximately 237,000-square-foot Class-A rear-load industrial development located in the Union County submarket of Charlotte.
Located at the first exit off the U.S. 74 Bypass, 74 Junction offers prime visibility and connectivity to key regional corridors, including U.S. 74 and the I-485 loop. With much of Charlotte’s established infill industrial inventory already built out, the project captures one of the last remaining opportunities to deliver modern Class-A space in a high-demand corridor, positioning 74 Junction to serve both the growing residential population and the expanding base of suppliers seeking strategic access to Charlotte.
The development will feature two rear-load, Class-A industrial buildings totaling more than 237,000 square feet – one at 120,000 square feet and the other at 117,000 square feet – each with 32-foot clear heights and modern specifications aligned with current market requirements.
“Given the dense residential growth throughout southeast Charlotte, the supplier market remains meaningfully underserved,” said Mark Holoman, partner at Foundry Commercial. “74 Junction represents a rare opportunity to introduce a modern, well-located industrial product in Indian Trail. As consumer expectations for speed and convenience continue to rise, well-situated distribution space like this will be critical in meeting demand.”
Courtney Fritz, senior asset manager at Principal Asset Management, notes, “We’re pleased to expand our relationship with Foundry in Charlotte, providing a much-needed product offering in the southeast part of the city.”
Designed to accommodate a range of light industrial, distribution, and service-oriented users, Edifice will serve as general contractor for the development; 9G Studio is the architect; and Thomas & Hutton is the civil engineer. Construction is expected to begin in the coming months, with delivery slated for Q3 2026.
About Foundry Commercial:
Foundry Commercial is a full-service commercial real estate services and investment company operating across office, industrial, retail, multi-family, healthcare, religious, and not-for-profit asset classes and clients. Focused on the Sun Belt markets, Foundry is sustained by more than 4,500 associates operating from 12 markets, providing leasing and management on more than 77 million square feet and approximately 5,700 seniors housing units, typically executing over $2 billion in leasing, tenant rep, and investment sale transactions annually. Foundry’s development and investment platform is fully integrated with its services business and has invested over $4 billion in joint ventures with many of the best-known institutional investors in the country. For more information, visit www.foundrycommercial.com.
About Principal Asset Management®
With public and private market capabilities across all asset classes, Principal Asset Management and its investment specialists look at asset management through a different lens, creating solutions to help deliver client investment objectives. By applying local insights with global perspectives, Principal Asset Management identifies distinct and compelling investment opportunities for more than 1,100 institutional clients in over 80 markets.1 Principal Asset Management is the global investment solutions business for Principal Financial Group® (Nasdaq: PFG), managing $601.6 billion in assets, including $105.2 billion in real estate assets1 and recognized as a “Best Places to Work in Money Management”2 for 14 consecutive years. Learn more at www.PrincipalAM.com
[1] As of September 30, 2025
[2] Pensions & Investments, “The Best Places to Work in Money Management”, among companies with 1,000 or more employees, December 2025.