Concord among nation’s 10 fastest-growing cities

International Business Park at Concord is located in the heart of a dynamic region that is experiencing a fast pace of growth. According to a recent WalletHub study, Concord ranks as the ninth overall fastest-growing city and the third fastest-growing small city in the U.S. WalletHub analysts compared 515 U.S. cities on 14 factors of rapid economic growth from 2009 to 2015. Factors included population growth, unemployment rate decreases, job growth, growth in regional GDP per capita and business number growth. When broken down by size, Charlotte ranked third in the large-city category. The Charlotte Business Journal offered a look at how Concord and Charlotte fared in several categories of the study: Population growth: Concord, 7th; Charlotte, 35th Job growth: Concord, 33rd; Charlotte, 24th Poverty rate decrease: Concord, 124th; Charlotte, 185th Regional GDP growth: Concord, 96th; Charlotte, same Growth in number of businesses: Concord, 1st; Charlotte, same Full-time jobs increase: Concord, 65th; Charlotte, 248th Working-age population growth: Concord, 13th; Charlotte, 59th The study helps emphasize International Business Park’s tremendous and lucrative opportunities for the service, retail, office and hospitality industries. While small clusters of restaurants and shops can be found within a few minutes, there is a major unmet need for shopping, dining and hospitality options at Exit 55 – one of the busiest interchanges in the state. Additionally, there are 3,100 people employed at the 30 companies located within in the IBP, including Fortune 500 corporations and numerous international companies that often bring out-of-town guests to the park. Phase III of the IBP offers nearly 50 acres of prime mixed-use land situated just off the intersection of I-85...

Land cleared, paving the way for spec office building at International Business Park

4540 Fortune Ave NW, Concord NC | Download the Flyer (PDF) The cul-de-sac at the end of Fortune Avenue has been bustling with activity over the last couple of weeks as heavy equipment operators clear the land to prepare it for construction of a speculative office building. Located at 4540 Fortune Ave. in the International Business Park at Concord, the 75,000-square-foot Class “A” spec office building will help serve a great need for available office space in Cabarrus County. Construction is expected to be completed in late spring 2017. Situated on nearly 20 acres near the busy I-85 and Hwy. 73 interchange, the building will be constructed on Lots 7 and 8 at the end of Fortune Avenue, located in Phase II of the park. It will feature build-to-suit offices and multiple entrances, with the potential to be subdivided. Should a tenant need to expand into another building, there is an available site adjacent to the spec office project. Additionally, the spec building will be delivered in shell condition and ready for a tenant’s specific upfit. With an expandable parking area, it will be able to accommodate 750 cars, up to 10 cars per 1,000 sq. ft. Cabarrus County Board of Commissioners Chair Steve Morris said the spec project brings opportunity to Cabarrus County by supporting future and expanding business, while City of Concord Mayor Scott Padgett said he hopes it’s the first of many similar projects. The 4540 Fortune Ave. project is a joint venture between The Nolim Group, CM Black Construction and CESI. To learn more about the Class A office spec building and its features, contact...

Flexibility key to success at International Business Park at Concord

Flexibility and a willingness to evolve to keep up with current business needs and trends is an approach that has served the International Business Park at Concord well over the last 30-plus years. A company searching for a place to start, relocate or expand its business wants a well-connected location that’s close to business facilities and leisure amenities. Companies also are seeking flexible terms, leasing packages, availability of land for future expansion and other attractive solutions that the IBP can offer. When Owens Corning was looking to consolidate its fabrication operations back in 1999, the company was attracted to the IBP because of its close proximity to Charlotte-Douglas International Airport. But, company officials were also drawn to the flexibility of the building’s design and two separate entrances for employees and truck traffic. “One of the reasons they picked the building so many years ago was because it allowed employees to enter and exit from one part of the building and featured a cul-de-sac in another part of the building that provided a secure truck port,” said Bryan Crutcher of CBRE. In Celgard’s case, flexibility came in the form of being able to build on a pre-graded site that required few modifications to meet its needs. The company, which develops and produces high-performance membrane separators, was also attracted to the IBP’s accessibility. “The park offers points of access that make it really easy to navigate through, which is especially helpful throughout any phase of construction or expansion,” Crutcher said. For Connextions/Optum, the health services business of UnitedHealth Group, a big plus point wasn’t what was inside the building, but rather...

Class A spec office building coming in 2017

4540 Fortune Ave. expected to be completed in late spring 2017 Plans are underway to build a 75,000-square-foot Class “A” speculative office building at 4540 Fortune Ave. Groundbreaking for the new building, which will help fill a great void for available office space in Cabarrus County, should kick off in late summer. It is expected to be completed in late spring 2017 at an estimated cost of $8 million. The project is a joint venture between The Nolim Group, CM Black Construction and CESI. Situated on 20 acres near the I-85 and Hwy. 73 interchange, the building will be constructed on Lots 7 and 8 at the end of Fortune Avenue, located in Phase II of the park. The building will have multiple entrances, the potential to be subdivided and a high parking ratio. It was designed with 7/1,000 parking, but that could be extended to 10/1,000 parking. Officials from both the City of Concord and Cabarrus County have given the project support by approving an 85-percent reduction in property taxes for three years. “4540 Fortune Ave. LLC is bringing opportunity to Cabarrus County,” said Cabarrus County Board of Commissioners Chair Steve Morris. “They’ve identified a need that will support future and expanded business. That is the foundation of economic development. We, in turn, are proud to support their commitment.” Mayor Scott Padgett added, “The City Council and I are pleased to support the development of much-needed Class A office space in Concord; hopefully, we’ll remember this as the first of many similar projects.” To learn more about the Class A office spec building and its features, contact Anne...

Versatility, strong local relationships key to business park success

When it comes to attracting diverse companies to the International Business Park at Concord, flexibility is key. From manufacturing and technology to retail and distribution, the park is designed to house a variety of industries – and the City of Concord and Cabarrus County are prepared to help accommodate them. “One of the biggest reasons we’ve seen businesses come here is because they have found long-term value in the park,” said Anne Johnson of CBRE during a recent Fam tour of Cabarrus County. “Not only do we have lots to offer, but the local governments are easy to work with and open to providing incentives.” During a bus tour down International Drive, the main thoroughfare for the park, Bryan Crutcher of CBRE noted the strong partnership park tenants have with the city and county. “It’s definitely a pro-business community. Local government has been willing to work with industries and developers to provide access to additional lots, extend facilities and assist with roads.” That flexibility can also be used to describe the park’s location and access. It offers two entrances that give visitors and employees options for entering or exiting the park. Another benefit is that most heavy truck traffic occurs in the middle of the night, which doesn’t interfere with or create a lot of traffic during normal business hours, Johnson said. In the near future, there are plans for mixed-use commercial, retail and hotel development and available C-2 zoned sites.  In the meantime, just south of the park are a variety of retail and service-based businesses, including restaurants, grocery stores and gas stations. “If park employees leave for...

Class A spec industrial building nears completion

A versatile product specially designed to attract new and expanding industry to Cabarrus County will soon make its debut. The 50,425-square-foot speculative industrial building, situated on 4.55 acres in Phase I of the International Business Park, can easily be converted to meet any business needs. The building is designed for R&D or manufacturing and is expected to be ready for lease or sale later this month. The development of the project has been managed by Beacon Partners and constructed by Myers and Chapman. “By having a good land site to work with, the process took about six months from start to finish,” said Bryan Crutcher of CBRE. “It’s ready for upfit now and someone could move in within the next couple of months. When you look at that timeline compared to other business parks, we feel that’s pretty quick turnaround.” Anne Johnson of CBRE also noted one of the other benefits of the spec industrial building is having independent truck and vehicle access areas. To learn more about the spec building and its features, contact Anne Johnson or Bryan Crutcher with the Charlotte office of...