Crow Holdings Signs National Retailer Near Charlotte
Cushman & Wakefield represented both parties in the long-term agreement.
American Eagle Outfitters has signed a long-term lease for 472,890 square feet at Innovation Logistics Center, an industrial campus developed by Crow Holdings in Salisbury, N.C. Cushman & Wakefield represented both parties.
The retailer will fully occupy Building 2, planning to invest $41 million to create a Southeast distribution hub. The investment will generate more than 200 jobs. Operations at the 2025-completed property are set to begin early next year, according to The Charlotte Observer.
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The Rowan County Board of Commissioners approved a three-year property tax incentive for the property. Other project partners include the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina, the North Carolina General Assembly, Commerce’s Division of Workforce Solutions, the North Carolina Community College System, Rowan-Cabarrus Community College, Duke Energy, the Rowan Economic Development Council and the city of Salisbury.
Charlotte, N.C.’s vacancy rate at the end of May clocked in at 10.2 percent, 140 basis points above the 8.8 percent national average, a Yardi Matrix industrial report shows. The market’s average listing rate during the same month was $7.80, marking a 5.7 percent increase year-over-year, lagging behind most Sun Belt peers.
A recently completed Charlotte facility
Developed in two phases between 2024 and 2025, Innovation Logistics Center comprises nearly 1.2 million square feet across two facilities.
Building 2 came online on a 43-acre lot. Crow Holdings developed it using funds from a $50 million construction loan originated by Busey Bank in April 2023, according to Yardi Matrix data. That note is set to mature in 2053.
The industrial facility is at 1415 Peeler Road, close to Interstate 85 and about 6 miles from Salisbury’s city center. Downtown Charlotte and Charlotte Inland Port are both within a 40-mile radius.
The Class A warehouse has 40-foot clear heights, 84 dock-high loading doors and four drive-in doors. The property also has 466 parking spots.
Cushman & Wakefield Managing Director Patrick Decker, Executive Vice Chair Ben Brenner, Executive Managing Director Mark Zaziski and Senior Director Patrick McGrath represented American Eagle Outfitters in the lease. Vice Chairs Fermin De Oca and Matt Treble represented the landlord.
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