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JACKSONVILLE, Fla. -- A million-square-foot distribution center built in Charlotte, N.C. by Winn-Dixie, and received by Wachovia Securities after the supermarket operator filed for Chapter 11 bankruptcy In February 2005, has been bought by W. T. Charlotte, LLC, a new partnership established by Dallas-based Westmount Realty Capital, a privately held commercial real estate investment and development firm, and Nick Tasooji, a Los Angeles-based private investor.
The purchase makes W. T. Charlotte the fifth-largest property owner in city.
Winn Dixie built the currently vacant facility, which sits on 66.3 acres and includes a 209,316-square-foot freezer building and 191,239 square feet of cooler space, in several stages from 1973 to 1999. Located in the heart of Charlotte's southwest submarket, the largest industrial market in the Carolinas, the facility is zoned for general industrial use.
W. T. Charlotte plans to immediately convert the property, which it has renamed "Logistics Pointe," into a multitenant distribution center and will offer space to industrial tenants in sizes ranging from 20,000 to over 340,000 square feet.