McCraney Property Company Acquires 54-Acre Site to Develop 610,700-SF Airport South Business Park within One Mile of Charlotte Douglas Int’l Airport
Industrial Demand in Charlotte Reflected by Historically Low Industrial Vacancy Rates Prompts Bullish Spec Developer to Choose Location for Company’s Continued Southeast Expansion
December 19, 2017 – Charlotte, NC – McCraney Property Company, the most active independently-owned developer of high-finish industrial properties in Florida, purchased a 54-acre land parcel near the intersection of Billy Graham Parkway and West Boulevard less than one mile from the Charlotte Douglas International Airport in Charlotte, North Carolina. The site will be home to Airport South Business Park, a new 610,700-square-foot speculative industrial development, part of McCraney Property Company’s more than 2 million square feet of industrial projects currently under development or planned throughout the Southeast U.S. including the 507,512-square-foot Logistics 77 @ Riverwalk in Rock Hill, South Carolina.
Providing easy access to Interstates 77, 485, and 85, Airport South Business Park will include five Class A industrial buildings featuring McCraney Property Company’s distinct, clean, high-finish warehouse design:
Building 100 – 107,200 square feet
Building 200 – 154,000 square feet
Building 300 – 138,600 square feet
Building 400 – 111,000 square feet
Building 500 – 99,900 square feet
“Airport South Business Park will be a last mile, infill location providing quality end users requiring freight forwarding and fulfillment needs unparalleled access to the airport, Uptown Charlotte, the Greater Charlotte region, and the overall Southeast U.S.,” said Steven McCraney, President and CEO of McCraney Property Company. “The park’s incredible position and reach is the stand-out factor in the market which is currently experiencing extremely high demand represented by historically low industrial vacancy rates.”
Recent market reports note Charlotte’s overall industrial vacancy rate is at 4.87 percent. Charlotte’s Airport/West submarket experienced the second highest positive absorption during third quarter 2017 with 195,410 square feet absorbed.
“The Charlotte region continues to be undersupplied […]