Greenberg Gibbons Properties (GGP), a prominent Maryland-based developer, has recently commenced construction on its latest project in Charlotte – the I-77 Commerce Center. This light industrial park, strategically located at 9905 Statesville Road, is projected for completion in November 2024. It will comprise three buildings totaling 149,709 square feet of state-of-the-art industrial space.
The development is designed to cater to the growing demand for multi-tenant, flex industrial spaces in the region. The largest building will offer 79,629 square feet with a 24-foot clear height, while the two smaller structures, each 35,040 square feet, will feature 18-foot clear heights. These specifications are tailored to meet the diverse needs of modern industrial tenants, including logistics, warehousing, and light manufacturing.
Drew Thigpen, Vice President of Development at GGP, highlighted the strategic advantages of the location, noting its proximity to major transportation corridors such as Interstates 77 and 485. "We believe that this product type continues to be in high demand and is undersupplied throughout Charlotte," Thigpen commented. The 21.5-acre site was acquired by GGP in March 2024, underscoring the company’s commitment to expanding its footprint in the Carolinas.
The project team for I-77 Commerce Center includes Landmark Buildings as the general contractor, Oak Engineering handling civil engineering duties, and McMillan Pazdan Smith Architecture providing architectural expertise. CBRE’s Bryan Crutcher and Alek Salfia have been appointed to lead leasing efforts for the center, ensuring that tenants from a variety of sectors find the perfect space for their operations.
This project marks GGP's third venture in the Charlotte market since its entry in 2021. The company's first project, CLT Commerce Center, a three-building flex industrial development near Charlotte Douglas International Airport, encompasses over 120,000 square feet and is fully leased. GGP's second project, Westinghouse Commerce Center, a 48,120-square-foot flex industrial building, also achieved full occupancy shortly after its completion.
In addition to its active projects, GGP has several other developments in the pipeline. The company is currently working on two more projects in Charlotte and two in Raleigh, all in the predevelopment stages. These endeavors reflect GGP’s strategy to leverage its expertise in industrial development to meet the rising demand for high-quality industrial spaces in the Carolinas.
Thigpen concluded, "Our approach is to deliver exceptional industrial spaces that not only meet the current market demands but also anticipate future needs. I-77 Commerce Center is a testament to our commitment to providing top-tier industrial facilities in key growth markets.
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