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2021 Q3 Charlotte Industrial Market Report

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Industrial Development Continues to Dominate

Key Takeaways

  • 3.2 million SF of absorption took place during Q3 2021 leaving limited existing options for occupiers seeking excess of 200,000 SF.
  • Overall industrial rental rates have increased over 15% since the beginning of 2021.
  • 12.25 million SF of industrial product is currently under construction representing a 62% increase since the beginning of 2021.

Charlotte Market Summary

Demand for industrial real estate did not slow within Q3 2021 as over 3.2 million square feet of product was absorbed. XPO, Masonite, Frito-Lay and Brothers Freight occupied a combined total of 1.5 million square feet within separate submarkets in the Charlotte region. Land demand remains high as developers continue to scout the region for sites to develop big-box industrial development; however, scarcity of sites suitable for development is becoming an issue. New developments announced during Q3 include: I-85 Commerce Center; a 657,000 square foot building being developed by NorthPoint Development within the Rowan County Submarket, Interchange Logistics Center; a 225,000 square foot building developed by Trinity Capital in Huntersville and Delta Industrial Park; an 876,587 square foot building developed by Trinity Capital in Gastonia.


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2021 Q3 Charlotte Industrial Market Report

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Related Experts

Grant Miller

Senior Director | Industrial

Charlotte

Grant Miller, SIOR is a top industrial real estate broker based in the Charlotte, NC office, having begun his real estate career in 2001.  Grant focuses his expertise on all faucets associated with industrial | corporate real estate and enjoys creating solutions and solving issues pertaining to his client's needs. Throughout his career, he has been involved in hundreds of transactions totaling more than 20 million square feet.

Grant's success is driven by the holistic approach taken to the process, whereby solid results are delivered to his clients in advising on industrial real estate acquisition and disposition services, strategic planning and implementation of network optimization studies, market evaluations, site selection, build to suit transaction structuring, agency leasing and construction procurement advising.  

Grant and his business partner, Don Moss, have been recognized as Top Producers within the Charlotte office in 2013, 2015 - 2016 and 2018 - 2019.

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Rob Speir

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Rob Speir specializes in industrial real estate, including Tenant representation, Landlord and Owner representation, investment sales and owner occupied sales.  Rob has nearly 14 years of experience in the Greater Charlotte Market representing buyers, tenants, institutions and local owners.

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Don Moss

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Don Moss specializes in industrial real estate, site selection, incentive negotiations and economic development consulting. As part of a combined 30 years of site selection, economic development, product development and brokerage experience, Don brings to Colliers International 15 years of brokerage experience, 15 years of local economic development experience and 6 years of development experience constructing industrial parks and buildings.

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Justin Smith

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Mr. Smith specializes in industrial real estate in the Charlotte MSA market. Such specialties include: tenant representation, landlord representation, land sales, investment sales, flex, and development consultation. He focuses on prospecting, researching market conditions, and generating strategic and innovative plans to create the best leasing and sale opportunities for his clients.
 

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Chris Neal

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Chris specializes in industrial real estate in the Charlotte market. Such specialties include: tenant representation, landlord representation, land sales, flex, and development consultation. With an appraisal background, Chris focuses on prospecting, researching market conditions and generating strategic and innovative plans to create the best leasing and sale opportunities for his clients.

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Greg Gosselin

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Greg specializes in industrial real estate in the Charlotte MSA market. Such specialties include: tenant representation, landlord representation, land sales, investment sales, flex, and development consultation. He specializes in prospecting and creating the best opportunities for his clients. 

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