{"id":1004681478,"date":"2023-09-21T03:32:23","date_gmt":"2023-09-21T11:32:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004681478"},"modified":"2023-09-21T05:54:42","modified_gmt":"2023-09-21T13:54:42","slug":"rockefeller-group-brings-1-msf-industrial-project-to-south-carolina","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rockefeller-group-brings-1-msf-industrial-project-to-south-carolina\/","title":{"rendered":"Rockefeller Group Brings 1 MSF Project to South Carolina"},"content":{"rendered":"
\"Spartanburg<\/a>

Spartanburg 221 is set for completion in the fourth quarter of 2024. Image courtesy of Rockefeller Group<\/em><\/p><\/div>\n

Rockefeller Group<\/strong> 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.<\/p>\n

The firm acquired the 87.7-acre land for the development back in November 2022 from A&L Properties 4 LLC<\/strong>, 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.<\/p>\n

The development team includes Atlas Collaborative<\/strong> as architect and Pattillo Construction<\/strong> 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<\/strong> are the property\u2019s exclusive leasing agents.<\/p>\n

\n

READ ALSO:<\/strong> Industrial Continues Growth Amid Rising Rates<\/a><\/p>\n

\n

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.<\/p>\n

Rockefeller Group is currently developing another industrial park in Duncan, S.C. Upon completion, the three-building Duncan Logistics Center<\/a> will total 827,000 square feet.<\/p>\n

A rapidly growing industrial market<\/h2>\n

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.<\/p>\n

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<\/a> in Florence County, S.C. The total investment is valued at $810 million.<\/p>\n

In June, Frampton Construction Co. and developer Greystar Real Estate Partners broke ground on the first phase of Mid85 industrial park<\/a>, 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<\/a> in Gaffney, S.C. The building is slated for completion in the fourth quarter of 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

This property represents the company’s second development in the Greenville-Spartanburg market.<\/p>\n","protected":false},"author":2829,"featured_media":1004681482,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,21742,32781],"tags":[32789,33348],"class_list":["post-1004681478","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-latest","category-southeast","tag-cbre","tag-the-rockefeller-group"],"acf":[],"yoast_head":"\nRockefeller Group Brings 1 MSF Project to South Carolina - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Rockefeller Group is developing its second industrial project in South Carolina, a 1 million-square-foot building in Spartanburg.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/rockefeller-group-brings-1-msf-industrial-project-to-south-carolina\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rockefeller Group Brings 1 MSF Project to South Carolina\" \/>\n<meta property=\"og:description\" content=\"Rockefeller Group is developing its second industrial project in South Carolina, a 1 million-square-foot building in Spartanburg.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/rockefeller-group-brings-1-msf-industrial-project-to-south-carolina\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-21T11:32:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-21T13:54:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/Spartanburg221.-Image-courtesy-of-Rockefeller-Group-e1695288491284.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"810\" \/>\n\t<meta property=\"og:image:height\" content=\"608\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Madalina Pojoga\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rockefeller-group-brings-1-msf-industrial-project-to-south-carolina\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/rockefeller-group-brings-1-msf-industrial-project-to-south-carolina\/\",\"name\":\"Rockefeller Group Brings 1 MSF Project to South Carolina - 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