High Point & Thomasville industrial real estate

High Point and Thomasville make up the Triad's single largest industrial submarket: about 44.0 million SF with 4.3% vacancy in Q3 2026 (Cushman & Wakefield).

What the stock looks like

High Point's industrial base grew up around furniture manufacturing and showrooms. That leaves a large inventory of older buildings: some with low clear heights or multiple stories, many in strong locations near I-74, I-85, and US 311. Warehouse asking rents average about $5.81/SF, manufacturing about $5.11, and flex, which is scarce, about $10.18.

Vacancy is low, but the submarket had about 445,000 SF of negative absorption year to date in 2026, as some legacy users consolidated or vacated. That makes building quality the deciding factor: functional space leases; obsolete space sits.

Value spread

The gap between functional and obsolete buildings is wide. The five-building Universal Industrial Park on East MLK Jr. Dr sold for $9.29 million, about $24/SF, in April 2026, while modern Triad warehouses traded above $100/SF this year. For owners, that spread is the opportunity: targeted capital (roof, power, doors, lighting, truck access) or a lease-up before sale can change which buyer pool your building attracts.

Demand drivers

Recent High Point expansions include Torvan Medical ($15M), Cascade Die Casting (about $8M), and Opsun ($9.3M), all announced in 2025. Proximity to Toyota's battery plant in Liberty and to PTI Airport supports supplier and service demand.

What it means

• Owners: get a functional rating before pricing; the right buyer for an older building is often a value-add investor or an owner-user, not a core fund.
• Tenants: affordable rents make High Point a strong value play for manufacturing and storage that doesn't need 32' clear.