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Big Spec Industrial in SW Charlotte

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Pennsylvania-based Exeter Property Group broke ground recently on a 110k SF industrial space in the southwest Charlotte market, Building II of Gateway Distribution Center. Basic supply and demand favor spec industrial these days. "It's a good time to build speculative industrial space because demand for Class-A warehouse is high due to a lack of supply and low vacancy rates," says Colliers International's Lawrence Shaw (right), who will be repping the landlord in leasing the property, along with colleague Rob Speir (left).

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Space users also want new space, besides a solid location (Gateway has access to the I-77 and I-485 interchange). "Companies who demand this kind of space are looking to utilize clear height and minimize travel times from the distribution center to their customers," Rob tells us. Building 1 is already fully leased.