Colliers facilitates sale at Fort Prince Industrial Park for Walmart’s $450-million “Project Replay”
October 19, 2021
Walmart’s recent “Project Replay” announcement of the purchase of ±201 acres of land for the company’s largest grocery distribution center to date means the entirety of Fort Prince Industrial Park (±750 acres) has now been sold by the Colliers industrial team of John Montgomery, Garrett Scott and Brockton Hall. Other developments facilitated by Colliers and currently under construction at Fort Prince Industrial Park in Spartanburg include The Cubes at Fort Prince and Hunt Midwest’s Fort Prince Logistics Center.
The retail giant selected the site in Spartanburg for the construction of a new 720,000-square-foot high-tech distribution center for fresh and frozen groceries. The facility will rely on a combination of associates, automation, robotics and machine learning to process perishable goods and deliver them to nearby stores, moving two times more product than traditional grocery distribution centers in addition to bringing new technology-focused job opportunities to the region.
The high-tech distribution center is part of a larger investment by Walmart to double down on the use of automation technology throughout its supply chain.
The retailer plans to invest approximately $450 million to establish operations at this location and will create 400+ new high-paying jobs as part of Project Replay, a commitment expected to boost Spartanburg County’s overall per capita income due to its size and scope.
“There aren’t many announcements that come close to this one in regard to overall impact on Spartanburg County,” said Spartanburg County Councilman and Chairman of Economic Development Committee David Britt. “Walmart’s decision to locate here will provide growth opportunities not only for residents but our community as a whole for years to come. We are grateful to Walmart leadership for their belief and commitment to Spartanburg as well as to our economic development experts and the Colliers team for their hard work and diligence in bringing Project Replay to the Upstate.”
“This announcement further solidifies our market as a top go-to location for large-scale distribution and fulfillment in the Southeast,” said Colliers Vice President Garrett Scott. “The confluence of multiple transportation nodes and ports, central location able to reach 100 million consumers within one-day’s truck drive and favorable labor profile make our market one of the top choices for supply chain reshoring, expansion and/or reconfiguration that is so vital right now.”
Employment opportunities at the new Walmart facility are expected to become available in 2024. Information on employment can be found at careers.walmart.com.
The Fort Prince corridor in Spartanburg has become a popular destination for industrial projects in 2021, with two large spec developments currently underway at Fort Prince Industrial Park delivering mid to late 2022.
Demand for industrial space has risen significantly nationwide due to supply chain reorganization and pent-up demand from the pandemic still affecting e-commerce and consumer trends. This dynamic is amplified in the Greenville-Spartanburg market due to its strategic location between Charlotte and Atlanta and proximity to major ports including the Inland Port in Greer.
The Colliers team of Garrett Scott, John Montgomery and Brockton Hall alone have seen record volume in the first three quarters of 2021, with ±5.97 million square feet and ±1,900 acres sold or leased year-to-date.
About Colliers
Colliers | South Carolina has over 150 staff members, including 62 licensed real estate professionals, covering the entire state with locations in Charleston, Columbia, Greenville and Spartanburg. In addition to traditional commercial real estate representation services for our clients, the company is actively engaged in Corporate Solutions and Healthcare Services. 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 17 million square feet of office, industrial, retail and healthcare properties. Colliers | South Carolina’s staff hold 49 professional designations, the most 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 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
