Addison Bell, CEO/CFO of Carotek, Inc., had purchased approximately 153 acres as an investment for a business park. His goal was to relocate his own industrial and engineering business to the site and create an investment opportunity out of the remaining land. Bell saw the benefit of working with an experienced full-time real estate firm, so he hired MPV Properties predecessor, Merrifield Partners, to utilize their expertise in the development of the property. The following was achieved for him:
- Assembled an additional 200 acres to improve access and visibility
- Rezoned property from residential to business park
- Obtained funding of $5.5 million from local utility department for sewer line extension and $1 million for water line extension
- Attained an at-grade railroad crossing
- Constructed approximately two miles of internal roads
- Anchored project with two institutional users: medical-70 acres and schools-65 acres
- Established protective covenants and architectural controls for property
Result: The park is positioned to be a premier business park for Eastern Mecklenburg County.
