News
BETTER DAYS AHEAD FOR INDUSTRIAL
April 19, 2012
| When new director of development for Trinity Capital Advisors Sherrie Chaffin surveys Charlotte for CRE opportunity, she sees the most potential in the industrial sector. All the ingredients are there for reasonably healthy growth in the coming years, she says. | ||
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| Sherrie tells us there's interest in Charlotte and surrounding counties, especially for industrial build-to-suits in established parks that can take advantage of incentive packages and the local labor pool. But developers need to be on their toes: The ability to "quickly deliver product in today's market" drives tenants' decisions. Sherrie also tells us that the nearest deep-water port to Charlotte (if you guessed Charleston, pat yourself on the back) might also be the site of industrial growth, with trade spurred by the expansion of the Panama Canal in a few years. "It will be interesting to see if Charleston's deep water is a real advantage that attracts more industrial users." | ||
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| Brooke Gibson, a managing associate at industrial specialist Hart Corp, is also optimistic about industrial, calling demand "poised for a steady increase due to the onshoring phenomenon and the augmented import/export capacity that will accompany the expansion of the Panama Canal starting in 2014." (The canal again. Thanks,Teddy!) Build-to-suits will be doable, but Brooke adds that now is the time for developers to begin thinking about spec industrial if they're to stay ahead of the curve. Even though financing is rare not accompanied by a credit tenant, "we're nearing the end of our quality supply, making new development inevitable. But the question is, who wants to be the guinea pig?" (If Teddy Roosevelt were here, he'd do it. Imagine if he were the type to lose his nerve. We'd be touting the Panama Babbling Brook.) | ||
