Greensboro/High Point/ Winston-Salem, North Carolina’s industrial market is experiencing high vacancies in all sectors. “The complete move of textile and furniture manufacturers to offshore sources has caused an oversupply of available space,” says Robbie Perkins, president of NAI Maxwell. “The economy has not been strong enough to fill the void.” As such, no significant industrial developments have been planned for 2003.

The airport area has always been the center of industrial development, but over the last 2 years, the pace has slowed dramatically. “Activity in this submarket will improve as we get closer to the opening of the FedEx Mid-Atlantic Hub in 2007,” notes Perkins. “The $300 million investment will be an important factor for distribution companies that rely on next-day service.” The FedEx Hub will be located on the northern end of the Piedmont Triad International Airport at the Bryan Boulevard/ Inman Road interchange.

The range for industrial rental rates is $2.25 to $3.25, triple net lease. Vacancy rates are presently at 13 percent. Perkins predicts the industrial market will be “slow going for at least 12 months, with the FedEx facility being the bright spot on the distant horizon.”


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