Royal Prelease

Royal Indemnity Co. leased 85,000 square feet of warehouse space at 10335 Ridge Creek Drive in Charlotte. Located in the State Line industrial submarket, the 170,000-square-foot Ridge Creek Distribution Center is currently under construction. Royal Indemnity plans to take occupancy upon delivery of the facility in January 2003. The property and casualty insurance firm plans to move its record storage facility to the new building, and also has an option to take on an additional 15,000 square feet as construction progresses. Royal Indemnity has approximately 50,000 employees providing services to businesses and individuals in more than 130 countries. The firm's U.S. operations are based in Charlotte. Childress Klein Properties brokered the deal on behalf of the owner.