Magnus Improvement has secured the primary two tenants at 803 Industrial Park, a Class A industrial speculative growth in Columbia, S.C., totaling upwards of 1 million sq. ft.
The mission, which broke floor in late 2022, was developed in partnership with Columbia Metropolitan Airport, and acquired $18.9 million in building financing originated by Southstate Financial institution, in keeping with CommercialEdge. Colliers negotiated on behalf of the owner.
Givens Transportation Options will absolutely occupy Gateway Three, whereas Mattress Warehouse will occupy 56,160 sq. ft of area at Gateway One, using that area as a distribution heart. These two buildings, that are every one-story buildings measuring 252,720 sq. ft, broke floor in November 2022 and are anticipated to be accomplished within the second quarter of 2023. Every constructing will embody as much as 57 dock-high doorways, two drive-in doorways, 32-foot clear heights, ESFR sprinkler techniques and 208 parking spots. There’s 196,560 sq. ft of area accessible at Gateway One.
READ ALSO: US Port Exercise Reaches Peak: Savills
The commercial growth can even embody the 408,240-square-foot Gateway Two constructing and the 157,500-square-foot Gateway 4 constructing, CommercialEdge information exhibits. A Colliers workforce comprised of Vice Presidents Dave Mathews and Thomas Beard, Managing Director Chuck Salley and Senior Brokerage Assistant John Peebles are the leasing brokers accountable for the mission.
Situated on the southeastern nook of Edmund Freeway and Columbia Airport Expressway, 803 Industrial Park is located close to UPS’ Air Hub. The ability is close to Interstate 26, I-20 and I-77, permitting for simple entry to the Port of Charleston, in addition to Augusta, Ga., and Charlotte, N.C. The location is inside six miles of downtown Columbia. The developer anticipates to lease each of the buildings nonetheless being constructed upon their completion, in keeping with ready remarks from Magnus Improvement’s Founding Associate Kevin Werner.
A powerful industrial pipeline
In 2022, a number of main industrial initiatives have been introduced within the area, together with Hunt Midwest’s 2 million-square-foot industrial campus in Anderson, S.C., which started building in June 2022, and SunCap Property Group’s and Goldman Sachs Asset Administration’s Enterprise 85 in Greenville, S.C. The 140-acre speculative industrial mission will embody 1.6 million sq. ft of area, with the primary part of building anticipated to be accomplished in 2023. Earlier this month, Scout Motors Inc. introduced its plans for a $2 billion manufacturing plant close to Columbia. The ability is predicted to create 4,000 new jobs, with manufacturing anticipated to start in late 2026.