Metro Charlotte Sees Growth in Spec Developments
By Eliza Theiss, Associate Editor
Metro Charlotte is experiencing a growing trend of speculative developments of late. Trinity Capital Advisors recently broke ground on 215 International Crossing, a 277,253-square-foot speculative distribution/manufacturing facility in Concord, N.C. Set to complete in December 2014, the tilt-wall, rear-loading industrial building will feature abundant office space with natural light and expansive truck and auto parking. Located on the corner of International Drive and Poplar Tent Road, minutes away from two I-85 exits as well as Highway 73, the facility boasts both accessibility and exposure. High profile corporate users located in the International Drive area are also expected to be a draw for future clients.
215 International Crossing was designed by Merriman Schmitt Architects and is being built by general contractors Myers & Chapman. Terry Brennan of Trinity Partners is marketing the property on behalf of the developer.
The development is expected to bring further economic growth to the area. According to Cabarrus Regional Chamber and Economic Development Senior Vice President Margie Bukowski, the project “offers us a unique distribution/manufacturing space that we did not have before to show to potential companies looking at our county.” She adds: “The location of the building is perfect for the demand we are seeing for industrial buildings close to Interstate 85.”
Claremont, N.C. is also getting a new spec building. A public-private partnership comprised of Catawba County, the City of Claremont, Matthews Construction, the Economic Development Corporation (EDC) and Innovate Catawba has recently broken ground on a 51,200-square-foot pre-cast concrete speculative building. The structure is being developed on 9.31 acres owned by the Matthews family and will complete in July 2014. It will feature 28- to 32-foot clear ceiling heights and will be able to be fully built out according to customer specifications within 120 days. If necessary, the structure can be expanded to128,000 square feet.
The City of Claremont, Catawba County and the EDC’s Committee of 100 will market the building both national and internationally and cover its carrying cost for up to three years. The structure is the first development in Building for Jobs, Innovate Catawba’s project aiming to create partnerships between the government and local developers and contractors at costs that will be inviting towards clients.
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Images via Trinity Capital Advisors and Catawba County Economic Development CorporationTags: 215 International Crossing, Architecture/Design, Brokers, Catawba County, Charlotte Lead Story, Claremont NC, Concord, Developers, Development, economic development, economy, Finance/Investment, Financiers, Industrial, Investors, leasing, Local, Managers, Matthews Construction, Myers & Chapman, National, Owners, Policy, property management, Regional, speculative building, Trinity Capital Advisors