Collett Industrial and Colliers announces the lease of speculative building at Carolina Pines Industrial Park to Charter Next Generation
August 24, 2023
Charter Next Generation will lease the building for its specialty film production operations
Colliers | South Carolina brokers Chuck Salley, SIOR, Dave Mathews, SIOR, Thomas Beard, SIOR and John Peebles, SIOR represented Collett Industrial in the lease of a 210,600-square-foot speculative industrial building at 10741 Farrow Road in the Carolina Pines Industrial Park in Blythewood, SC to Charter Next Generation (CNG).
This facility is located next door to CNG’s existing manufacturing operation and will serve to expand the company’s distribution footprint within the region. CNG is North America’s leading independent producer of high-performance specialty film, flexible packaging solutions and other end-use products that impact local communities and beyond. It is committed to a sustainability-first approach that protects families, strengthens the global community and facilitates a greener future for generations to come.
Collett Industrial and its partner, Humphreys Capital, broke ground in Q2 2022 and completed the building in Q1 2023. The construction team included Matthews Construction serving as the site contractor, Vannoy Construction as the building contractor, MCA Architecture as the architect and Thomas & Hutton as the civil engineer.
“We set out on every speculative project with the goal of attracting high caliber users exactly like CNG and we’re excited to assist in expanding their operation at Carolina Pines,” said Teddy Hull, Principal at Collett Industrial. “We appreciate all the effort and collaboration by CNG, Colliers, Richland County, and our entire construction team in bringing this project to fruition.”
This announcement follows several big wins for Richland County, including a $2 billion investment from Scout Motors, a $323 million investment from Cirba Solutions Fiberglass and a $400 million investment from Mark Anthony Brewing.
The Carolina Pines Industrial Park is also home to Belk Distribution Center, Intertape Polymer Group, Husqvarna Outdoor Products, Patterson Logistics Services, Amcor Rigid Plastics and more.
“It’s always a wonderful day and a testament to the County’s exceptional business climate when a speculative building secures a tenant,” said Jeff Ruble, Director of Economic Development for Richland County. “It’s doubly exciting when that tenant is an existing industry with established roots in our community. We congratulate Charter Next Generation and Collett Industrial on this successful expansion and look forward to supporting their future growth.”
This lease takes the last available existing Class A industrial space in all of central South Carolina. The vacancy rate in the market is at a record low of 2.4% and is 1.96% in the Northeast Columbia submarket.
“The need for the supply of industrial buildings in central South Carolina is greater than ever,” said Salley, Managing Director | Industrial Services in Colliers’ Columbia office. “The demand in our market is rapidly increasing and in order to serve expanding and new businesses in the area, the market will need to develop more properties to meet the need.”
Salley, Mathews, Beard and Peebles are the leading industrial brokerage team in central South Carolina, specializing in leasing, user sales and investment sales of industrial properties. Their multifaceted platform gives them a unique insight into market conditions for all types of industrial properties. Click here to learn more about Colliers’ Columbia industrial brokerage team.
About Colliers
Colliers | South Carolina is the largest full-service commercial real estate firm in South Carolina with 62 licensed real estate professionals covering the state with locations in Charleston, Columbia, Greenville and Spartanburg. Colliers is an Accredited Management Organization (AMO) through the Institute of Real Estate Management (IREM) and is the largest manager of commercial real estate properties in South Carolina with a portfolio of over 19 million square feet of office, industrial, retail and healthcare properties. Colliers’ staff hold the most professional designations of any firm in South Carolina. Colliers | South Carolina’s partner, LCK, provides project management services for new facilities and renovations across South Carolina.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 65 countries, our 18,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. With annual revenues of $4.5 billion and $98 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
