Interest growing in commercial industrial properties

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Roxboro is experiencing growing interest in commercial industrial properties from companies both local and outside the county.

Companies are interested in using the properties for a mix of uses from manufacturing to storage.

Several factors are sparking the growing interest including a need for more space and affordable property prices outside of the Triangle.

“It is probably 50 percent cheaper on existing properties that are already in place, but new construction is going to cost as much to construct here as Durham or Raleigh. The difference is the land cost in those other populated areas,” said Pointer & Associates real estate broker Tommy Winstead.

At a recent meeting of the Person County Economic Development Commission, Roxboro city manager Brooks Lockhart mentioned hearing rumblings of increased interest in warehouse space in and around Roxboro.

The subject is also on the agenda for more discussion at the EDC’s March 26 meeting.

The Triangle’s growth has created an interest for companies to look at properties in Roxboro and that’s creating new growth in Roxboro and Person County as the Triangle slowly expands.

Roxboro’s growth, in particluar, is tied to Durham.

“The growth is driven by the Triangle’s growth as a whole. Roxboro is dependent on the Triangle,” said SVN HPW commercial real estate advisor Andrew Simpson.

Big companies like Amazon also play a factor.

Due to Amazon’s influence and its impact on how retail business is done, companies are taking a second look at industrial properties.

“It has been that push for Amazon culture. That type of manufacturing to store and ship your own stuff,” said Simpson.

Simpson believes vacant buildings that have been overlooked for years have the potential to be repurposed in the next five to 10 years.

However, it is not just a matter of square footage and price but usability.

“You can’t save them all but there is a lot worth saving,” said Simpson.

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