Greenville-Spartanburg, September 21, 2022 – As industrial demand continues to drive new development in the Upstate and expand the boundaries of the Charlotte market, the I-85 corridor in Cherokee County has recently seen elevated interest from developers nationwide. In part due to favorable labor dynamics and accessibility to a large consumer population that Cherokee County provides, Chicago-based developer Glenstar and Creek Lane Capital have announced a 290-acre tract in Gaffney will be the destination for their newest big-box development project, ±3.6-million-square-foot Cherokee Commerce Center 85.
The developer and capital partner plan to invest $415 million in the project, announcing plans to construct up to six buildings in multiple phases. The first two facilities at the park, ±500,000-square-foot (expandable to ±1.34 million square feet) Building Two and ±278,200-square-foot Building Four, are expected to begin construction in January 2023 with delivery in Q4 2023. Master planning shows potential for up to ±1.7 million square feet under one roof to accommodate bulk industrial users.
The park will offer tenants Class A+ industrial space with industry-leading specifications necessary for distribution and/or manufacturing in a convenient location just off the main I-85 belt.
Other recent industrial developments in the Cherokee corridor include DHL and Mann+Hummel’s 1.4-million-square-foot distribution center at Exit 87 and the acquisition and expansion of TTI’s 1-million-square-foot facility on Commerce Drive at Exit 96.
Cherokee Commerce Center 85’s master plan focuses on maximum flexibility in size and configuration, with expandability options to meet specific tenant needs. The location offers future tenants access to Charlotte, NC, the Inland Port in Greer, two international airports and BMW’s Plant Spartanburg within a 50-mile radius and is an attractive distribution corridor due to the ability to reach 100 million consumers within a one-day truck drive.
“There is no question that Cherokee County is the new frontier for industrial development in 2022,” says Cherokee County Administrator Steve Bratton. “Ample space to accommodate big-box industrial requirements and many of the same locational benefits for distribution as nearby Charlotte or Spartanburg make this a highly desirable submarket for distribution purposes. The availability of land and attractive labor dynamics show untapped potential that will certainly open up new opportunities for investment in coming years.”
The Colliers industrial brokerage team of Garrett Scott, John Montgomery, Brockton Hall and Dillon Swayngim has been selected to handle leasing for the park. The team will market the property as an opportunity for industrial users looking for Class A+ space with easy access to the interstate along with favorable state and local incentives and healthy workforce dynamics.
Colliers | South Carolina has over 145 staff members, including 62 licensed real estate professionals, covering the entire state with locations in Charleston, Columbia, Greenville and Spartanburg. Total 2021 brokerage volume exceeded $1 billion, which included over 590 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’ staff hold 54 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 and set a new record by managing a portfolio of projects approaching $1 billion in volume during 2021.
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