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- Market Mondays: Charlotte, NC - January 6, 2025
Market Mondays: Charlotte, NC - January 6, 2025
YardDogs check out the IOS market in Charlotte
Ready to dig into the Charlotte IOS market?
YardDogs -
Happy 2025 and welcome back! In this edition of Market Mondays we take a look at IOS in Charlotte, NC. We outline why the Charlotte, NC area has attracted IOS investors, and at the end of the newsletter we’ve highlighted some of the recent trades and a few YardDogs in this market!
In today’s email:
Overview: Charlotte, often referred to as the “crown jewel of the south” and known as a financial hub, has gained in popularity. The fundamentals of the city as well as connectivity and proximity to other growing Sun Belt cities make it ideally positioned for IOS.
Acquisitions: There is great investor interest in the region, with the Charlotte area experiencing population growth and attracting major tenants.
MARKET OVERVIEW
Charlotte, NC
Why Charlotte?
With a population of just over 911,000, Charlotte is one of the fastest growing large cities in the U.S. Charlotte has consistently ranked around number 15 for most populous city in the nation. The greater Charlotte region has a population of 2.9 million.
Charlotte has great connectivity to the southeastern region as well as cities along the east coast. Within a 500-mile radius of Charlotte, NC, cities like Atlanta, Washington D.C., Philadelphia, New York City, Nashville, and Miami are reachable within a 10-hour drive. Access to railroads, intermodals, a top international airport, and interstates make Charlotte a key spot for logistics.
With a regional population of 2.9 million and 25 colleges and universities, the Charlotte region boasts talent and expertise needed to drive future economic growth. Its skilled workforce, paired with exceptional logistical advantages, positions Charlotte as a business hub. It's no surprise that 18 Fortune 500/1000 companies call it home.
The ongoing growth of U.S. manufacturing has driven numerous large-scale projects to the Sun Belt, with North Carolina leading the nation in manufacturing job announcements. Charlotte has seen substantial investment during the reshoring boom, particularly in biomanufacturing and pharmaceuticals. Notably, Eli Lilly is set to deliver an 800,000-square-foot campus in Cabarrus County this year, part of a $1 billion investment in the region.
Top Companies to Know in Charlotte
Bank of America
Truist
Lowe’s
Honeywell
Sonic Automotive
Nucor
Albemarle
RXO
Sealed Air
Curtiss-Wright
Check out this link for a full list
IOS Market Trends
Charlotte's industrial market is seeing strong demand and tenant retention, driving occupancy as the construction pipeline shrinks. While vacancy rates in 2024 have been higher than in the past decade, they are expected to stabilize and may begin to tighten as new developments are absorbed. With land prices exceeding $25 PSF, IOS sites are likely to shift toward neighboring suburbs. However, IOS remains well-positioned to benefit from the growing interest of logistics, manufacturing, and technology companies recognizing Charlotte's strategic value.
CLOSED TRANSACTIONS
Acquisitions and Dispositions
ACQUISITION: In July, Simi Capital Group acquired their first site in North Carolina - a 3.2-acre site at 3533 Robinson Circle in Charlotte for just under $2.8 million.
ACQUISITION: Alterra acquired a 5.4-acre site at 309 Morningside Rd in Charlotte, NC in October. The property is leased to The Loving Group and Alterra purchased it for $3.25 million. Greg Gosselin and Justin Smith with Colliers represented Alterra in this transaction.
ACQUISITION: In October, Catalyst acquired a 2-acre IOS site for $2,895,000. The IOS property is located at 8100 England Street, and the Catalyst team included Von Hobe and Brandon Johnson.
MORE CHARLOTTE YARDDOGS: Regent CRE, Whiteside Properties, KW Commercial, Southeast Commercial Real Estate Group, G Brokerage Commercial Real Estate, Colliers, Cushman & Wakefield
Know of other great Charlotte IOS acquisitions or YardDogs that we missed?
Send an email to [email protected]. We answer every email you send our way!
Disclaimer: The authors of IOS YardDogs are not finance or tax experts. We love big yards, small buildings. This email is for educational uses and is not financial / investment advice. Please conduct independent research and consult with industry professionals before making financial or investment decisions. Our content, which may contain affiliate links, is subjective and not to be used as the only basis for such decisions. We are not responsible for any losses from relying on this information.