March 24, 2023
Collett Industrial to develop Troutman industrial park totaling nearly 700K square feet
A Charlotte-based developer is plotting a new multi-building industrial park in Iredell County.
Collett Industrial announced today its plans to develop Northside 77, a three-building park in Troutman totaling 693,020 square feet of space. The industrial park will span approximately 90 acres off Houston Road near Exit 42 of Interstate 77.
Construction at the park is expected to begin in the third quarter. On that timeline, the buildings would deliver in the second half of 2024.Collett Industrial is working with Colliers International's Grant Miller and Phoebe Dinga to market Northside 77. Miller touted the project's proximity to I-77, as well as I-40, as a strength for prospective tenants.
“We look forward to partnering with Colliers, the Iredell EDC, and the Town of Troutman on this opportunity to provide well-located, high-quality space to today’s industrial users within the greater Charlotte market,” said Teddy Hull, principal at Collett Industrial. “We’re excited to expand on our investment in the region and look forward to delivering a thoughtfully designed project that can accommodate a wide range of tenant sizes and uses.”
Northside 77 will include industrial buildings of 135,200 square feet, 217,620 square feet and 340,200 square feet. The buildings include clear heights between 32 feet and 36 feet. Each building calls for between 100 and 200 auto parking spaces in addition to trailer parking.
Iredell County real estate records show an entity affiliated with Collett Industrial acquired the project site in December for just over $5.5 million. Collett Industrial is a subsidiary of Charlotte-based Collett.
“The location, quality of construction, and size of buildings available with the Northside 77 development is a sweet spot for the project requests we are receiving," said Jenn Bosser, president & CEO of the Iredell Economic Development Corp. "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.”
Northside 77 is not Collett Industrial's first speculative project in the Charlotte area. In 2021, the developer announced plans to develop Airport 85 Business Center, a 154,920-square-foot industrial building near Charlotte Douglas International Airport. That project has since been completed and sold late last year to Ares Management Corp. for $20.3 million.
Article By: Collin Huguley - Staff Writer, Charlotte Business Journal