Rooker to break ground on $22,000,000 speculative industrial real estate development in Anderson County, SC
Construction is set to begin August 5 on Pelzer Point Commerce Center, a 212,500-square-foot speculative industrial development in Anderson County, South Carolina. Rooker’s total investment in the Pelzer Point development is projected to be $22,000,000 at full build-out. Rooker expects to complete construction of Pelzer Point Building One in the 3rd quarter of 2021.
The companies that occupy Pelzer Point Building One will benefit from the lowest property taxes in the Greenville-Spartanburg-Anderson (Upstate South Carolina) industrial market. Thanks to a Fee in Lieu of Tax agreement passed by Anderson County to attract high-quality employers, Rooker estimates that Pelzer Point property taxes will be $0.45 to $0.65 per square foot lower than similar properties in Anderson, Greenville and Spartanburg Counties.
When complete, Pelzer Point Building One will be Anderson County’s first speculative, Class A industrial development with I-85 frontage. The facility will be less than a two-minute drive from I-85 Exit 32 in a location adjacent to Jeff Martin Auctioneers. Pelzer Point is highly visible to more than ±68,500 passers-by daily on I-85, the main transportation artery connecting Anderson to Greenville, SC, Atlanta, GA and Charlotte, NC.
Rooker and Colliers believe that Anderson County’s strong labor pool will be a major factor in attracting new manufacturing, logistics and distribution companies to Pelzer Point. In recent years, Anderson County has successfully recruited major investments from companies like Arthrex, a Florida-based medical device manufacturer. The area has also seen significant expansions from companies like TTI, which recently took occupancy of its new 375,000-square-foot Innovation Center on Ryobi Drive and Electrolux, which is currently undergoing a $200-million expansion on Masters Boulevard.
“The Pelzer Point project will help fill a major need in our region for this type of commercial space,” said Anderson County Administrator Rusty Burns. “Furthermore, the logistics and distribution services to be provided by the development will provide crucial support for numerous enterprises operating in our community.”
Increased demand for distribution and warehousing space along the I-85 corridor is a driver for speculative development in this area, which already has a strong industrial base anchored by users such as Walgreens, Bosch, Plastic Omnium and Michelin. Pelzer Point Commerce Center is located within a 15-minute drive of major industrial users in Greenville at SCTAC (formerly the Donaldson Center).
“We have been working for years to find the right site for this kind of investment in Anderson County, and we are excited to be starting construction on our first speculative Class A project,” said John Rooker, CEO of Rooker. “Rusty Burns, Burriss Nelson and their Anderson County colleagues have been great to work with so far. We look forward to working as a team with Anderson County and Colliers to bring new employers and high-quality jobs to Pelzer Point.”
The facility will feature 212,500 square feet of Class A industrial space with 32’ ceiling heights, rear-load orientation, 50 dock doors and office space to suit. In addition to Building One, Pelzer Point Commerce Center includes a second building pad which can accommodate up to 187,000 square feet for either build-to-suit or speculative development.
“We are pleased to welcome Pelzer Point Commerce Center to our Anderson County family,” said Anderson County Council District Six Representative Jimmy Davis. “The professionals at Colliers International have done a fine job planning this facility, and I am sure it will be a major driver of economic activity throughout the region for years to come.”
“Anderson County is a great location for industrial development,” said Brockton Hall, SIOR, Senior Brokerage Associate with Colliers International. “The market benefits from a fantastic manufacturing base and a pro-business mindset which has created a lot of demand for industrial space over the last couple of years. We’ve seen new users come into the market as well as continued investment and expansions from existing industries. This has resulted in declining vacancy which puts Pelzer Point in a great position to take advantage of growing demand. Continued demand for logistics and distribution space along I-85 will also be a driver for activity. We’re excited about the Pelzer Point opportunity and continuing to work with Rooker and Anderson County to bring new investment to the local community.”
Rooker is a full-service real estate development, design and construction management firm specializing in industrial manufacturing, warehousing, distribution and government office projects. The company has developed more than 500 sites and has more than 50 million square feet of construction and development to its credit. Since its original development project in 1968, Rooker has evolved into a trusted turn-key real estate development firm by carefully understanding the goals of the client and consistently exceeding client expectations.
The firm has developed multiple facilities in the Upstate of South Carolina including Spartan Ridge Logistics Center, a 559,000-square-foot industrial development in Spartanburg, and the Social Security Administration’s Office of Hearing Operations (OHO) in Greenville which completed in 2018.
The Colliers industrial team has proven experience advising development clients in the Upstate of South Carolina and will leverage its local relationships, network of regional experts and the Colliers national platform to find the right tenant for this location.