Charlotte once again gained national recognition as the city’s future continues to look bright. Earlier this quarter, Charlotte grabbed the number two spot on Business Facilities’ annual ranking report for economic growth potential. As vacancy decreases and rental rates continue to rise, owners are expected to sell properties for record high amounts as Charlotte demonstrates it is a viable and highly sought after investment market.
Investment activity continues to be strong for industrial product as institutional investors seek properties along I-85 that cater to logistics service provider’s needs. Year-to-date, 9.5 msf of industrial space sold for a total of $670.7 million. Continued emergence of eCommerce will impact future redevelopment and development of larger warehouse facilities as demand increases for “last mile” distribution centers.