A lease agreement reached last year proved to be a rarity for the Asheville, North Carolina area, garnering the deal a 2023 CoStar Impact Award, as judged by property professionals familiar with the market.
System Logistics, an Italian-owned company that manufactures warehouse and distribution machinery, in November agreed to occupy space at Fletcher Crossing, a flex/industrial property in Fletcher, North Carolina. The company needs to move out of its U.S. headquarters in Arden, North Carolina, while it undergoes an $8 million renovation to handle an expansion in business. System Logistics plans to occupy its new office next month.
About the project: System Logistics leased 70,000 square feet at the Fletcher Crossing flex/industrial building in Fletcher, North Carolina, according to CoStar data. The property is owned by Fletcher Warehousing.
What the judges said: "Landing a logistics tenant in the Asheville market is very difficult," said Rusty Pulliam, CEO of Pulliam Properties. "This is a unique tenant that very well may be in western North Carolina for a long time."
System Logistics "is a growing company providing quality jobs," said Carla Barnard, managing director at Carla & Co. Real Estate Services. "This lease is supportive of the broader, iconic development goals of our area."
They made it happen: Austin Walker, senior adviser at Whitney Commercial Real Estate Services.