Crescent Communities and Fortius Capital Partners Close Sale of AXIAL Rapid Commerce
CHARLOTTE, North Carolina – (Dec. 18, 2025) – Crescent Communities and Fortius Capital Partners today announced the sale of AXIAL Rapid Commerce, a premier 449,069-square-foot Class A industrial facility located at 500 Rhyne Road in Charlotte, North Carolina. Crescent, a nationally recognized market leading real estate investor, developer and operator of mixed-use communities and industrial developments, partnered in 2024 with Fortius, an industrial real estate company that develops and operates best-in-class industrial business parks in the Carolinas. Pacolet Milliken, the project’s LP partner, is purchasing the development from the partnership in a transaction that underscores its strong performance and the company’s long-term commitment to the asset.
Situated within the 1.5 million-square-foot Rapid Commerce Park, AXIAL Rapid Commerce benefits from direct access to Charlotte Douglas International Airport, I-485, and I-85. From this location, tenants can reach more than 50% of the U.S. population within a single day’s drive and 75% within two days, positioning the facility as a strategic hub for logistics, manufacturing, and distribution users across the East Coast. The sale follows a successful lease to Amazon earlier this fall and recognition as a finalist in the Charlotte Business Journal’s “Heavy Hitter” Awards for top warehouse development.
Amazon’s full-building commitment represents one of the Charlotte region’s most significant industrial leases of 2025 and is expected to generate hundreds of direct and indirect jobs tied to logistics, distribution, and third-party service industries. Growing on its existing Charlotte-area footprint exceeding one million square feet, Amazon’s lease underscores the market’s acceleration in bulk industrial deals in 2025.
“AXIAL Rapid Commerce embodies Crescent Communities’ commitment to delivering high-quality, sustainable industrial facilities in the nation’s most dynamic logistics markets,” said Brendan Pierce, President of Commercial at Crescent Communities. “From its best-in-class design to its unparalleled connectivity, this project demonstrates how thoughtful development can attract market-leading users and deliver long-term value for investors, partners, and the surrounding community.”
The state-of-the-art facility includes 3,850 square feet of office space, 338 auto parking spaces, 106 trailer parking spaces, two drive-in doors, and multiple storefronts. It features 36-foot clear heights, abundant dock doors, and is designed to meet the operational needs of a wide range of users. The space received LEED v4 BD+C: Core and Shell Silver certification, incorporating a 14% reduction in embodied carbon during construction, along with sustainable features such as heat island reduction, advanced recycling systems, and environmentally responsible materials.
Additionally, Crescent Communities and Fortius Capital worked closely with Mecklenburg County Parks & Recreation, Centralina Regional Council, and Beacon Partners to establish a new trail system and public park incorporated into the 140-acre Rapid Commerce Park. This public-private initiative provides meaningful recreation amenities for nearby neighborhoods and employees throughout the business park. “This proves how collaboration and cooperation at every level makes for a better project and a better community,” said Harris Morrison, president of Fortius Capital.
AXIAL Rapid Commerce was developed in a joint venture between Crescent Communities and Fortius Capital Partners. Pacolet Milliken (JV partner) and TD Bank (lender) served as financial partners. Additional partners include Colliers (leasing), Evans (general contractor), DMA Architecture (architect), and Osborn Engineering (civil engineer).
Pacolet Milliken is a multi-generational, family-owned investment company headquartered in Greenville, South Carolina, with a disciplined, long-term approach to owning and growing high-quality real estate and infrastructure assets. Its portfolio spans industrial, multifamily, land and utility holdings, and emphasizes sustainability, operational excellence and community impact alongside financial performance.
The Crescent Communities team has extensive experience in executing AXIAL Industrial projects encompassing more than $921 million. Today, its portfolio features 65 industrial projects, with nearly 14.5 million square feet of completed projects and 3 million square feet of projects in development or operation. Recent milestones include the sale of AXIAL Gateway 95 in Richmond and the sale of AXIAL Southgate 77, also in Charlotte.
The Fortius Capital team has developed 1.9 million SF of industrial properties since its inception in 2017. Some of its projects include Meadows Corporate Park, Lakeshore Corporate Park, Springs Business Park, and Trade Park at Concord.
View photos of AXIAL Rapid Commerce here.
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About Crescent Communities:
Crescent Communities is a nationally recognized, market-leading real estate investor, developer, and operator of mixed-use "communities." We create high-quality, differentiated multifamily and commercial communities in many of the fastest growing markets in the United States. Since 1963, our development portfolio has included more than 96 multifamily communities and 25 million square feet of commercial space. Crescent Communities has offices in Charlotte, D.C., Atlanta, Orlando, Nashville, Dallas, Denver, and Phoenix. Our multifamily communities are branded NOVEL, RENDER, and HARMON by Crescent Communities, our industrial developments are branded AXIAL by Crescent Communities, and our life science developments are branded THE YIELD by Crescent Communities.
