McCraney to Build 610 KSF Spec Building near Charlotte Airport
The company acquired a 54-acre parcel less than one mile from the airport as part of its 2 million-square-foot industrial expansion throughout the Southeast U.S.
By Laura Calugar
Steven McCraney
McCraney Property Co. has purchased a 54-acre site near the Charlotte Douglas International Airport in Charlotte, N.C. The site will be home to Airport South Business Park, a new, 610,700-square-foot speculative industrial development. The acquisition is part of McCraney Property Co.’s plan to expand in the southeastern U.S., with more than two million square feet of industrial space underway or planned. The 507,512-square-foot Logistics 77 @ Riverwalk in Rock Hill, S.C., is also part of the massive project.
Located at the intersection of Billy Graham Parkway and West Boulevard, the warehouse will provide easy access to interstates 77, 485 and 85. Airport South Business Park will include five Class A industrial buildings:
- 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 McCraney Property Co. President & CEO Steven McCraney, in prepared remarks.
Historically low vacancy rates
Recent market reports note Charlotte’s overall industrial vacancy rate is at 4.9 percent. Charlotte’s Airport/West submarket experienced the second-highest positive absorption during the third quarter of 2017, with 195,410 square feet absorbed.
Foundry Commercial Managing Director & Principal Warren Snowdon and Vice President David Hanna in Charlotte represented McCraney Property Co. in the land acquisition.
Image courtesy of McCraney Property Co.
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