Karnes divides the industrial market is into two categories – warehouse and flex. At the end of 2013, the Tri-City markets contained a total of 105 million square feet of warehouse space and 34.6 million square feet of flex space. With over 52 million square feet of warehouse space, the Triad market accounted for approximately 50% of the Tri-City warehouse market. The Charlotte market ranked second with 34 million square feet, while the Triangle market maintained 18.4 million square feet.
The 178,250 square feet of warehouse space completed in the Triad market during 2013 accounted for all of the new warehouse space completed among the Tri-City regions. For the Triangle market, 2013 marked the fourth year in a row where no new warehouse space was delivered. Two warehouse buildings were delivered in the Triad market during 2013 with the largest being a 134,650-square-foot speculate building at 1023 Corporate Park Drive in Mebane. A total of only 564,738 square feet of new warehouse space was delivered in the Charlotte market between 2009 and 2013, while the Triangle market reported even less at 412,940 square feet. With the additional space delivered during 2013, total warehouse construction in the Triad during the same period totaled 469,750 square feet.