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Genpak Buys Former International Paper Building In Steele Creek


Food and beverage container maker Genpak inked a deal to buy the 333k SF former International Paper Corp building in Westlake Business Commons, at 10601 Westlake Drive, for about $15.8M. The company will use about 67k SF of the building as its new HQ and 266k SF for manufacturing.

The company announced in April that it would move its HQ here from New York state, but had expected to rent office space and build a plant, the Charlotte Business Journal reports. Instead, the company found the Steele Creek property, facilitated by Foundry Commercial's Warren Snowdon, David Hanna and Lane Holbert. CBRE's Tom Evans and Barney Earles repped the buyer.

When renovations are complete this summer, the building will house 100 headquarters employees and as many as 100 production employees. The company has nearly outgrown its production facility off Westinghouse Boulevard in Charlotte. [CBJ]