Colliers facilitated the lease for CED Greentech at Magnus Development’s newest industrial development in Lexington County Industrial Park.
Magnus Development is breaking ground on their newest industrial development, 321 Logistics, in Lexington County Industrial Park in West Columbia, SC. The project is named accordingly for its strategic location along Highway 321 which is less than one mile from the intersection of I-77 and I-26.
Chuck Salley, SIOR, Dave Mathews, SIOR, Thomas Beard and John Peebles of Colliers’ industrial brokerage team in Columbia represented Magnus Development and CED Greentech in a 68,040-square-foot pre-construction lease and will continue to handle the leasing and marketing efforts for the remaining space at the property.
“CED Greentech brings the newest tilt-wall, Class A building in the Columbia industrial market to approximately 38% pre-leased, demonstrating the need for additional availability in this product class,” said Salley, Vice President and Director of Industrial Brokerage Team for Colliers. “The delivery of 321 Logistics is expected to be received well by the market due to high demand and limited supply and the speculative buildings that Magnus has developed do not stay available for long.”
113,400 square feet remains available for lease at 321 Logistics. The 181,440-square-foot state-of-the-art facility will feature a 30-foot minimum clear height, expandable dock doors and ample trailer drops to meet tenant needs. The ESFR fire suppression system will allow tenants to maximize the cubic feet of storage space, and the motion sensor LED light fixtures provide daylight brightness in the warehouse with utility savings for the tenant. Magnus anticipates that the building will be available for occupancy by the end of 2021.
“Today’s industrial vacancy rate in central South Carolina is nearing historic lows and it is becoming more difficult to find well-located, flexible industrial buildings such as the 321 Logistics building,” said Kevin Werner, Partner with Magnus Development. “The Lexington County Industrial Park has proven to be a location that continues to meet this demand with quality industrial buildings. The right product, coupled with proactive economic development agencies, helps ensure we will deliver investments and jobs for the region.”
Magnus Development is a privately held, South Carolina-based real estate developer focused on delivering single tenant build-to-suits, spec industrial buildings and corporate advisory services throughout the Southeastern United States. With over 50 years’ experience in commercial real estate, Magnus founders have developed properties for some of the nation’s most recognizable companies, including Home Depot, Iron Mountain, Starbucks, Domino’s Service Centers, Tractor Supply, Husqvarna and others.
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.
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 16 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.