Manufacturing firm Precision Framing Systems has moved its operations to a southwest Charlotte facility from Illinois.
The company, a subsidiary of construction-industry supplier Masco Corp., has leased 226,642 square feet in Logistics Pointe Distribution Center off Westinghouse Boulevard.
The Charlotte Chamber helped ink the deal with Precision, which was looking at several other locations in surrounding counties and in South Carolina, says Justin Hunt, chamber vice president of economic and European development.
“We’re very glad they selected Charlotte,” he says. “It adds another manufacturer to our area, which has developed a very interesting manufacturing focus.”
Precision, which will make trusses for the construction industry here, did not receive incentives for its move to Charlotte from Montgomery, Ill. Hunt says it’s unclear how many jobs were created with the move. Precision did not return phone calls seeking comment.
Logistics Pointe is a 1.1 million-square-foot complex on 66 acres at 2401 Nevada Blvd. Dallas-based Westmount Realty Capital bought the former Winn-Dixie regional distribution and warehouse center in 2006. The space was renovated for multiple tenants and is now about 75% leased.
Westmount spent about $600,000 to upfit the site for Precision, including installing dock doors, building truck ramps, renovating office space and upgrading the electrical system, says Steve Kanoff, Westmount executive vice president and partner. He estimates the firm will employ about 50 workers, based on the required parking.
Masco bought Precision in February for $2.5 million from Illinois-based Neumann Homes Inc., which filed for bankruptcy. Taylor, Mich.-based Masco, a Fortune 250 company, manufactures brand-name consumer products for the home-improvement and new-home construction markets.
The company also sells and installs products including cabinetry, fireplaces, gutters, bath accessories, garage doors, shelving and windows. Its manufacturing facilities are located throughout the United States, while international operations are primarily in Europe. Masco has more than $11 billion in annual sales.
Lane Holbert and Barb Jespersen of Colliers Pinkard represented Westmount in the deal. John Wharton, also of Colliers Pinkard, represented the tenant.
Selwyn project denied by council
Chris Branch’s compromise proposal for a Selwyn Avenue project was rejected by City Council this week.
The Charlotte developer trimmed his original plans for an 11-story tower to eight stories to win over neighborhood groups. But his plans were still met with objections. The new Boulevard Co. design was shorter, yet had more units — 42, up from 19. And it was bigger overall: 107,530 square feet compared with 100,675 square feet.
The city’s zoning advisory panel had voted 4-2 to deny Branch’s rezoning request. Council members followed suit Monday with a unanimous vote against the project.
Branch could still move forward on his original plan, which is allowed within the current zoning of the site on the corner of Queens Road West and Selwyn.
Branch bought the site for $1.3 million in June 2007.
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