Here’s what we know about the Black & Decker distribution site sale in Fort Mill.
A New York City investment firm just bought the Stanley Black & Decker site on Pleasant Road near Fort Mill.
York County land records show more than 42 acres at 4041 Pleasant Road sold Dec. 27 for $56.4 million. Investment firm W.P. Carey and a limited partnership company make up the ownership group.
In an online company release Jan. 6, W.P. Carey announced $282 million worth of new investments including a $94 million sale-leaseback in the Charlotte area, on the North Carolina-South Carolina border. The release doesn’t list the Black & Decker site by name. It does mention a 1.2 million square foot logistics and distribution site leased to a well-known S&P 500 manufacturing company, near I-77 and I-485.
According to the release, the lease is 12 years with fixed annual rent escalations.
Land records show B&D Distribution Inc. of Maryland, a company of Black & Decker, owned the site that previously belonged to the Catawba Indian Nation and Crescent Resources. Records show the site sold for $20.5 million back in 1995.
The site sits in the northern point of York County on the Fort Mill side of Lake Wylie. The state line bisects the facility, with part of it on Choate Circle in Charlotte. It’s surrounded by several other large business sites in the Lakemont Industrial Park. Several others sold recently too, like the adjacent 53 acres at 4210 Pleasant Road that sold in September for more than $38 million.
Black & Decker already had the more than 450,000-square-foot site on the state line when, in late 2017, the company announced a new $31 million facility and 500 new jobs in Fort Mill with another 345,000-square-foot site. That site, in Lakemont, was built to make DeWalt cordless power tools.
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This story was originally published January 6, 2020 at 10:44 AM.
