New $25M spec building planned in Rock Hill’s Riverwalk

A $25 million speculative building is expected to be completed by the end of the year in Rock Hill’s Riverwalk community, say local economic development officials.

The “spec” building, at Site B in Riverwalk’s Business Park, will be 507,000 square feet (11.6 acres) with 144 dock doors, 200 parking spaces and 120 trailer parking spaces. The address will be 845 Paragon Way.

The building is a joint venture between Riverwalk and McCraney Property Co. in West Palm Beach, Fla., said Stephen Turner, executive director of the Rock Hill Economic Development Corp., or RHEDC.

Turner said the space, like most spec buildings, will be built to suit any type of company, whether it be manufacturing or distribution.

Having spec buildings to entice companies to relocate or expand to Rock Hill is important for economic development, Turner said.

“Most businesses, when they need to expand or relocate, they don’t have a year and a half to build the building,” he said. “Businesses willing to do that are looking for existing buildings. If you don’t have an existing building, you’re not going to be in the game.”

Turner said Rock Hill has received a “tremendous amount of prospect activity” at the second spec building at Waterford Business Park.

The initial Waterford spec building was built in fall 2014, and was sold to Beacon Partners, a Charlotte-based commercial real estate agency.

Properties at Legacy East and Legacy West business parks are also still on the marketplace, Turner said.

This story was originally published June 7, 2017 at 11:01 AM with the headline "New $25M spec building planned in Rock Hill’s Riverwalk."