Rockefeller Group Brings 1 MSF Project to South Carolina
This property represents the company's second development in the Greenville-Spartanburg market.
Rockefeller Group is expanding its Greenville-Spartanburg industrial footprint with a second project in the market. The company is developing Spartanburg 221, a 1 million-square-foot speculative industrial building in Spartanburg, S.C. Under construction since earlier this year, the distribution center is slated for delivery in the fourth quarter of 2024.
The firm acquired the 87.7-acre land for the development back in November 2022 from A&L Properties 4 LLC, for $4.8 million. The deal also included a smaller parcel of 2 acres for which the company paid $110,000, according to Spartanburg County records.
The development team includes Atlas Collaborative as architect and Pattillo Construction as general contractor. Upon completion, the property will feature 40-foot clear ceiling heights, 56- by 53-foot column spacing and will offer up to 530 parking spaces and 237 trailer stalls. First Vice Presidents Campbell Lewis and Marcus Cornelius with CBRE are the property’s exclusive leasing agents.
The building is taking shape just off Highway 221, 1 mile northwest of the Interstate 85 exit and 78 interchange. The facility will be some 35 miles away from Greenville and 24 miles northeast of Greenville-Spartanburg International Airport. The surrounding area includes companies, such as Concept Packaging Group, Contec and Challenge Manufacturing, among others.
Rockefeller Group is currently developing another industrial park in Duncan, S.C. Upon completion, the three-building Duncan Logistics Center will total 827,000 square feet.
A rapidly growing industrial market
According to a second quarter CBRE report, 3.6 million square feet were delivered in the second quarter of the year within the Greenville-Spartanburg industrial market. The area had another 16.2 million square feet under construction and a vacancy rate of 4.9 percent.
Rockefeller Group Vice President Steve McGee stated in prepared remarks that the market is rapidly growing and that there is demand for distribution and manufacturing facilities that can cater to the auto industry. Earlier this summer, Japanese battery manufacturer AESC broke ground on a 1.5 million-square-foot gigafactory in Florence County, S.C. The total investment is valued at $810 million.
In June, Frampton Construction Co. and developer Greystar Real Estate Partners broke ground on the first phase of Mid85 industrial park, a 2 million-square-foot property in Spartanburg, S.C. More recently, Glenstar Properties received $38.2 million in construction financing for the development of the first phase of Cherokee Commerce Center 85 in Gaffney, S.C. The building is slated for completion in the fourth quarter of 2024.