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2021 Q4 Industrial Charlotte Report

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There is little end in sight for demand in Charlotte

Key Takeaways

  • Continued industrial demand from larger tenants, spurring in excess of 10 million SF of construction from local and national developers
  • With demand, industrial rental rates continue to climb in the greater Charlotte market
  • The geographical definition of “Charlotte”, according to big box developers, has increased and added many micro submarkets

2021 was a year of high water marks and momentum continued during Q4 2021. The Charlotte Industrial Market saw just over 1.6 million square feet of Net Absorption in Q4 2021, pushing year-end volume to a record 5.5 million square feet. New supply continues to keep pace with absorption as 4.2 million square feet was delivered, and 10.8 million square feet is currently under construction. Capital Markets activity saw several transactions with record pricing. One such notable transaction was the FedEx Ground facility at Metrolina Park closing at $170 per square foot. Charlotte is seeing a sense of urgency in speed to market on all fronts. 

The vacancy rate is 120 basis points lower than Q4 2020 and is the lowest it has been in almost three years. This is driving a landlord favored market demonstrated by increased rental rates and annual escalations. Expect new supply to be met by immediate absorption in 2022.


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2021 Q4 Industrial Charlotte Report

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Related Experts

Lawrence Shaw

Managing Director

Charlotte

Mr. Shaw specializes in industrial real estate.  Such specialties include: tenant representation, landlord representation, land sales, land development, investment sales and development consultation. Mr. Shaw has been awarded the Top Industrial Producer Award in the Charlotte Metropolitan Market and continues to rank as one of the top five industrial producers for the area.

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Greg Copps

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Mr. Copps specializes in industrial lease/sale transactions and investment sales.  He has over 30 years of real estate experience with extensive experience in dispositions, development services, land sales, investment sales, build-to-suits and tenant representation. Mr. Copps continues to rank in the top five industrial producers year after year for the Charlotte Metropolitan Area.

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Grant Miller

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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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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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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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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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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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Blanton Hamilton

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Blanton is a Research Analyst with
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Blanton is also responsible for planning
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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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