CRG continues Greenville-Spartanburg push, begins sitework on new ±2.35-million-square-foot Cubes project
October 7, 2021
With more than 2.7 million square feet completed and successfully leased in the Greenville-Spartanburg market, developer CRG has set its sights on a new industrial development park in Spartanburg County, The Cubes at Fort Prince. The park, located at 1460 Fort Prince Boulevard in Spartanburg, consists of multiple proposed speculative buildings which together represent ±2.35 million square feet of industrial construction potential. CRG purchased the ±186-acre site on the up-and-coming Fort Prince industrial corridor in August and has already begun initial site work for Phase I of Building A (±500,940 square feet expandable to ±1.5 million square feet).
The Colliers team of Garrett Scott, John Montgomery and Brockton Hall have been the exclusive brokerage and advisory partner of CRG for more than five years and have advised the company through planning, development and leasing of one of the largest industrial parks in the Upstate, 2.7-million-square-foot The Cubes at Inland 85. The Colliers team will continue working with CRG to plan, market and lease the Cubes at Fort Prince.
Master planning shows three proposed structures at The Cubes at Fort Prince: ±1.5-million-square-foot Building A (to be completed in two phases), ±500,400-square-foot Building B and ±345,600-square-foot Building C. The buildings will feature enhanced specifications important for modern industrial users including 40-foot clear heights, cross-dock orientation, on-site trailer parking and spec office to accommodate speed-to-market occupancy requirements.
Initial site work is expected to conclude on Phase I of Building A at the end of 2021 and construction schedules show the first ±500,940 square feet dried-in and move-in ready by Q2 2022 with the option to expand based on tenant need.
“Our plan is to be at the forefront of the newest wave of speculative development in Spartanburg,” said CRG Executive Vice President and Partner Mike Demperio. “We’ve seen incredible success with the Cubes industrial concept in the Upstate at the Inland 85 location and feel like the iron is hot in terms of rolling out more product to a market that is gaining a lot of traction and attention from large industrial users across the Southeast. Our planning and development process with the Colliers team allows us to be agile in adapting to what the market and tenants need at time of delivery. This approach, along with strategic locational decisions, make the Cubes an incredibly attractive option for larger institutional companies with predetermined requirements on an accelerated timeline.”
CRG’s popular “Cubes” series is a speculative development brand wherein each building must adhere to a set of standards including environmental responsibility, access to major transportation, state-of-the-art design and construction, 3D conceptualization, zero tolerance safety programs, modern truck docking, ample trailer storage and workforce availability.
The developer currently holds several land positions near the Inland Port for future speculative and build-to-suit projects including The Cubes at Inland Woods, a ±467,200-square-foot spec industrial building on Woods Chapel Road in Greer expected to break ground late 2021 and deliver late 2022.
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. Total 2020 brokerage volume exceeded $533 million, which included over 456 sales and leasing transactions. 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.
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