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).
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.
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