A building constructed by Randolph County in 2001 that had spent two decades underutilized was transformed in 2023 into part of the North American supplier network for a global automobile company, making a significant impact in the Greensboro, North Carolina area.
The lease signed on the property received a 2024 CoStar Impact Award for lease of the year in Greensboro and Winston-Salem, as judged by real estate professionals familiar with the market.
About the Project: The deal was brokered by NAI Piedmont Triad. Robbie Perkins, shareholder and market president for NAI, said the lease marks the first "supplier deal made in the market" for the global automobile company.
The site is owned by NAI Earle Furman Development Group, which acquired the property in 2022.
What the Judges Said: Judges noted how the lease signifies the wide-scale impacts of a global automobile company's expansion in the area.
"This lease signifies a pivotal moment for Randolph County, setting a benchmark lease rate for Class A industrial buildings in the area," said Margarita Kaprielyan, associate professor of finance for Elon University. "This move boosts the industrial sector's net absorption and introduces a new, high-tech industry focus, setting the stage for further sustainable development. The lease overcame substantial challenges, including tight timelines and complex permitting processes."
"Its extreme global/local impact to the area and state," said Jeff Jordan, owner and broker at Jordan Real Estate.
They Made It Happen: Jamie Newell, Robert Lewis and Stanhope Johnson, of NAI Piedmont Triad. James Malm, Catherine Bradley, Matt Beavin, Joe Warman and Jonathan Good of NAI Earle Furman.