Collett Industrial appears to be teeing up a new speculative industrial project in Statesville.

Earlier this week, Statesville City Council approved incentives for Project Crossroads. Collett Industrial was revealed as the developer behind that $16 million code-named project during City Council's meeting on Feb. 3. The Charlotte-based developer is planning a 200,000-square-foot industrial building at a site on International Drive in Statesville, city documents show.

An entity affiliated with Collett Industrial has owned a 21.4-acre site on International Drive since 2021, according to Iredell County real estate records. The developer bought the site in December of that year for $675,000, records show.

The International Drive site is at the interchange of interstates 77 and 40. Other notable industrial developments in the area include NorthPoint Development's Park 4077.

An attempt to reach Collett Industrial for more information on its plans in Statesville was unsuccessful before deadline. The project is expected to be completed by the end of 2027, according to city documents.

Statesville City Council approved incentives worth $348,758 for Project Crossroads, records show. That includes a three-year incentives grant worth $198,758, along with $150,000 toward road improvements.

Collett Industrial is a subsidiary of commercial real estate firm Collett. The industrial platform's portfolio includes 2 million square feet of completed or planned industrial space, according to its website.

Last year, Collett Industrial teamed with GTIS Partners to start construction on a three-building industrial park in Cherokee County. That project, named Stateline 85, will include over 930,000 square feet of industrial space. Collett Industrial announced its plans in 2023 to develop Northside 77, a three-building park in Troutman totaling 693,020 square feet of space.

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By Collin Huguley – Senior Staff Writer
Charlotte Business Journal
Feb 7, 2025

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