Industrial Submarket Reports

Q1 2022

OVERVIEW

The Cabarrus County industrial market is largely concentrated in the area surrounding Concord-Padgett Regional Airport and along the junction of I-5 and US 29. The auto racing industry also plays a significant role in the shaping the landscape of the Cabarrus County market, as it is home to Charlotte Motor Speedway and the large majority of NASCAR teams occupying footprints in this submarket. The Airport, Highway access and product demand has catalyzed a shift away from historical textile and tabaco tenancy, to large corporate and fortune 500 distribution and innovation hubs.

DATA, TRENDS AND CONSIDERATIONS

5.3% vacancy rates and rent growth at 10.1% year over year points to the general health and velocity of the Cabarrus county market. Other trends such as Amazon’s build to suit million-SF fulfillment center and FedEx’s 600,000 SF facility nearby are indicators that more growth is to come as this submarket continues to emerge as another submarket in the Charlotte metro area factoring into major distributors intermodal supply chains. Investor interest in the submarket has increased, year over year with 2020 proving to be a high-water mark in investment sales transactions