Winston-Salem industrial real estate

Forsyth County's industrial base, outside Kernersville, totals about 44.0 million SF across Cushman & Wakefield's four Winston-Salem submarkets, with inventory-weighted vacancy of about 6.6% in Q3 2026.

The submarkets that matter

North Forsyth (19.8M SF, 4.6% vacant). The largest Winston-Salem submarket, home to much of the city's legacy manufacturing and distribution base along US 52. Warehouse asking rents average about $7.25/SF; flex is among the highest in the Triad at about $11.50. Kuehne + Nagel renewed 71,560 SF at 4965 Indiana Ave in Q3 2026.

Southeast Forsyth / Union Cross (14.7M SF, 8.1% vacant). The modern logistics corridor near I-40 and the Union Cross interchange. About 300,000 SF delivered this year and about 214,000 SF of positive absorption followed. The I-74 Northern Beltway's eastern section is expected to open by the end of 2026, which should improve access for this corridor. The Union Cross portfolio traded at about $112/SF in July 2026.

West Forsyth (6.1M SF, 11.6% vacant). The highest vacancy in the Triad, mostly from recently delivered space, but leasing is happening: CBX Solutions took 94,500 SF at West Point Industrial Park in Q3 2026. Tenants have negotiating room here.

Central Winston-Salem (3.5M SF, 2.5% vacant). Small, older, and nearly full.

What it means

• Tenants: West Forsyth and Union Cross offer the most choice in modern space; expect concessions on newer buildings that delivered vacant.
• Investors: the Union Cross sale shows institutional buyers still pay up for leased, modern Winston-Salem product.
• Owners of older North Forsyth buildings: flex and small-bay demand is strong; functional upgrades (power, doors, lighting) can move rents meaningfully.