Is Rocky Mount the Next North Carolina Real Estate Market to Explode?

Is Rocky Mount the Next North Carolina Real Estate Market to Explode?

While the Raleigh Metro market has been one of North Carolina’s hottest real estate investment market hot for a decade the last several years, saw the meteoric rise of the Charlotte market, and with Greensboro set to potentially rise with the Toyota investment, could Rocky Mount be the still undiscovered North Carolina real estate market?

Strategically located on the I-95 corridor, the Rocky Mount area potentially poised to see a big boost in growth with the opening of the CSX intermodal terminal known as the Carolina Connector.

As the News & Observer reported, “a 330-acre terminal where shipping containers are transferred between trucks and trains…the Carolina Connector is the first intermodal hub in the eastern half of North Carolina, which is why state officials were so eager to see it built. For now, it is primarily moving containers that originate at the Port of Wilmington or businesses in the region onto trains bound for Chicago, for distribution in the Midwest.”

Freightwaves.com reports, “the terminal is one of the most technologically advanced in its (CSX) network, will have rail-to-truck transfer capacity for domestic and international container shipments. The terminal has three wide-span, zero-emission electric cranes with a lift capacity of 110,000 containers per year.”

Trains.com mentions, Strategically located northeast of Raleigh, N.C., with easy access to Interstate 95, the new CCX terminal will help relieve port and highway congestion by adding rail-to-truck transfer capacity for domestic and international container shipments. The state of N.C. paid for 75% of the new yard. Its expected to generate 1,300 new indirect jobs in the state.

While this is a great investment for the Rocky Mount, it will be interesting to see how much of a long-term real estate investment impact the Carolina Connector drives.