Ground broke on another major Rock Hill industrial site. Investment is already coming
The next big industrial players in Rock Hill could soon have more sites to consider, after groundbreaking last week on 240,000 square feet of space at Waterford Business Park.
Charlotte-based Selwyn Property Group will partner with California-based CIP Real Estate to bring a 25-acre site at 656 Red River Rd. to market by the end of next year.
Two buildings are planned, each at 120,000 square feet. Each building is designed for a single tenant but could be subdivided for multiple industrial users. The property isn’t far from Dave Lyle Boulevard or I-77, which will allow transportation options.
Dallas, Texas-based CBRE Group is a commercial real estate services and investment company. CBRE announced a limited partnership equity placement, in the project, at more than $11 million. In a release, CBRE vice chairman Patrick Gildea said investors are becoming more discerning with their money related to location and type of product.
“We continue to see strong interest from capital for speculative industrial development in proven locations with tenured developers,” Gildea said.
According to CBRE, the Charlotte metro had more than 18 million square feet of industrial space under construction at the midway point of 2023. York County had almost 1.9 million square feet under construction.
County land records show the Red River Road site in Rock Hill sold in late September for almost $2.5 million.
