3 Important Industrial Insights
|We asked C&W EVP Jim Dieter, who's an expert in pretty much every major industrial property market in the country, how greater Charlotte, with its 200M SF of inventory, stacks up these days compared to other markets.|
1. Leasing activity reported at mid-year 2012 was about 800k SF, which was down from the same time in 2011 at 1.2M square feet of leasing activity.
2. Still, he's optimistic that the area will continue to grow throughout the year and beyond, particularly in the smaller distribution and light manufacturing sectors. The typical profile of buildings absorbed in the market is between 30k SF to 50k SF, which means the region isn't particularly known as a "big box" distribution hub.
3. Industrial vacancy rates are high in the Charlotte area, in the 16-plus percentage range, but Jim reiterates that there's a positive outlook on this region, especially as manufacturing continues to grow in the US. (We'll do our part by custom ordering everything. A monogrammed box of cereal in every pantry.)