Atlanta-based IDI Logistics plans speculative industrial development in Huntersville
An Atlanta-based developer is entering the Charlotte market with a new industrial project in northern Mecklenburg County.
IDI Logistics will develop 77 North Logistics Center, a 153,350-square-foot, speculative industrial project, in Huntersville. Vertical construction is expected to start on the project, which is on Mt. Holly-Huntersville Road, in the third quarter. Completion is targeted for the second quarter of 2023.
The building will include 36-foot clear heights, 28 dock-high doors and two drive-in doors, along with 10 trailer parking spaces.
An entity affiliated with IDI Logistics purchased the roughly 12-acre project site for $1.8 million, according to county real estate records. The deed was recorded on Jan. 4.
Avison Young's Henry Lobb and Abby Smith are leading leasing efforts for 77 North Logistics Center. Myers & Chapman is the general contractor, while Macgregor Associates Architects is also part of the project team.
“IDI Logistics is excited to enter the Charlotte market with our 77 North Logistics Center project," IDI Logistics' Nick Faber said. "This (nearly) 154,000-square-foot, class-A industrial building will be located in a business-friendly municipality offering access to highly skilled employees in an established Charlotte submarket.”
Some market observers have referenced a need for smaller and medium-sized industrial product in the Charlotte area, as developers in recent years have trended toward large facilities. IDI Logistics is trying to meet that need with its Huntersville project, Lobb said.
“There is certainly a need for product in the Charlotte market sub-250,000 square feet," Lobb said. "There are extremely limited existing options and the pipeline of deliveries through summer of next year are, in my opinion, fairly light. This project meets the market well from a timing standpoint.”
IDI Logistics' core office is in Atlanta. It has six other offices nationally in locations such as Chicago, Los Angeles, Dallas, Cincinnati and Memphis, according to its website.