Charlotte developer Collett Industrial has plans for a major industrial park in Troutman in Iredell County.
Construction will start in the third quarter on the 90-acre project off I-77. Plans call for three buildings with a total of 693,000 square feet of space, says Grant Miller, senior vice president for Colliers, the commercial real estate company that will handle the leasing for the Northside 77 project.
Collett paid more than $5.5 million for the land near Exit 42 of Interstate 77, about 35 miles north of Charlotte. It’s about 11 miles south of where the north-south highway crosses with Interstate 40.
The planned buildings are slated for warehouse distribution or manufacturing, Miller said. It will be being within a 30-minute drive of more than 271,000 people and within the 3.3 million who live in the greater Charlotte market.
Troutman has a growing population of 3,800 residents, about 44% greater than five years ago, according to census data.
“As the Charlotte industrial market continues to grow, this project could not be better situated given its proximity to the Charlotte central business district and interstates 77 and 40,” says Miller.
Not much vacant land exists around the Charlotte market, said Miller, especially those so close to two interstate highways, and a nearby third, Interstate 85.
Jen Bosser, president and CEO of the Iredell County Economic Development Corp., says the Northside 77 project hits a “sweet spot for the project requests” coming into the county’s business recruitment agency.
“Having available sites and buildings that can be delivered within a quick time frame provides us with a competitive advantage to attract new investment and job creation in our community,” says Bosser.
Collett and Colliers teamed up last on the Airport 85 Business Center near the Charlotte airport on Interstate 85. The 85 Airport Business Center offers almost 155,000-square-feet of space on more than 13 acres and opened in January.