Newtown Square-based Equus Capital Partners has expanded its reach in the Charlotte, North Carolina area after acquiring 1.2 million square feet of industrial space, writes Collin Huguley for Philadelphia Business Journal.

The $124 million acquisition includes eight buildings in the Charlotte market and a ninth building in the Greensboro region.

At the time of the sale, every building was 100 percent leased.

“The high historical occupancy and below-market, in-place rents will provide for an opportunity to increase net operating income and expand lease duration going forward,” said Tim Feron, Equus’ vice president of acquisitions.

There’s expansion potential at the properties, with 400,000 square feet of development available, according to Feron.

Equus has several projects in the Charlotte region.

In our area, the Equus Capital Partners portfolio includes the Ellis Preserve in Newtown Square, including the AmeriHealth Caritas headquarters; offices at 675 E. Swedesford Road in Wayne; and multifamily units at Madison Ellis Preserve, Madison Glen Mills, and Harrison Madison Ellis Preserve.

It has properties in Pennsylvania, Delaware, Virginia, West Virginia, North Carolina, Tennessee, Georgia, Florida, Missouri, Illinois, Texas, Minnesota, Arizona, Colorado, and Washington.

Find out what makes the Charlotte region an attractive area for development in the Philadelphia Business Journal.