Glenstar and Creek Lane Capital announce $415m, 3.6msf industrial development project in South Carolina
Glenstar and Creek Lane Capital have announced a 290-acre tract in Gaffney, S.C., will be the destination for their newest big-box development project, the 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, the 500,000-square-foot (expandable to 1.3 million square feet) Building Two and 278,200-square-foot Building Four, are expected to begin construction in January 2023 with delivery in fourth quarter 2023. Master plans show potential for up to 1.6 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 Interstate 85 belt.
The location offers future tenants access to Charlotte, N.C