NorthPoint Development Kickstarts 3.3 MSF Industrial Park

Spartan Enterprise Park site plan. Image courtesy of Colliers

NorthPoint Development has acquired a 310-acre site and broken ground on Spartan Enterprise Park, a 3.3 million-square-foot industrial campus in Spartanburg, N.C.

The developer acquired the site for $21 million from Gordon Farms, according to Spartanburg County records.

Managing Director Garrett Scott, alongside Vice Presidents Brockton Hall and Dillon Swayngim of Colliers facilitated the land purchase and will oversee leasing for the upcoming property.

Two buildings totaling 1.3 million square feet are now under construction, while another 1.9 million square feet are proposed for future development. The first two buildings of 324,633 and 1 million square feet, respectively, are in the preleasing phase, with completion expected in the fourth quarter of 2023.

Spartan Enterprise Park will include up to five buildings, ranging from 287,000 to 1.5 million square feet of contiguous space. The campus will include Class A features, such as cross-dock orientation, heavy power, parking, trailer storage and 40-foot clear heights.

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The industrial park is located at 2116 U.S. Highway 221, 25 miles from Spartanburg and 90 miles from Charlotte, via Interstate 85. Inland Port Greer is within 20 miles, with Greenville-Spartanburg International Airport some 27 miles northwest from the development site. Companies in the area include Walmart, Michelin and BMW.

This month, NorthPoint acquired a 170-acre site in San Antonio, Fla., for the development of a Target e-commerce fulfillment center. The developer also completed a 1 million-square-foot speculative industrial facility in Pontoon Beach, Ill., part of the 600-acre Gateway Tradeport master-planned project which will comprise more than 7.5 million square feet.

Since 2012, NorthPoint has developed and managed more than 141 million square feet of industrial space across several states, with the largest number of projects located in Ohio.

Industrial growth in the Upstate market

Nathan Brinker, NorthPoint Development Director of Industrial Leasing, said in prepared remarks that the company chose the Upstate (Greenville-Spartanburg) market due to its central location in the Southeast, access to regional transportation corridors and the state’s inland and seaport network.

According to CommercialEdge data, the Greenville market has 46 projects under construction, with 218 in the planning and prospective stages.

A 2022 third-quarter Colliers report shows that the Greenville-Spartanburg market has a pipeline of 6.9 million square feet under construction to be delivered this year, with another 11.4 million square feet to be delivered in the near future. Despite an increase in year-over-year development, 2023 might bring a decrease in speculative projects.

According to Hall, industrial absorption in the Upstate region is driven by manufacturing, automotive, distribution and third-party logistics users. Moreover, Spartan Enterprise will also benefit from the rising demand for big-box space throughout the Southeast.