Red Rock Completes 520 KSF South Carolina Facility

November 6, 2024

The speculative development is the sole building featuring 40-foot clear heights in the central South Carolina market.

Exterior shot of Red Rock Development's second industrial facility to debut inside the Sandy Run Industrial Park in Gaston, S.C. — The facility’s roof features 45-mil mechanically fastened TPO while the floors consist of an 8-inch, 4,000-psi unreinforced concrete slab. *Image courtesy of Colliers*

Red Rock Development wrapped up construction on a Class A, 519,792-square-foot speculative distribution facility in Gaston, S.C. The building is expandable to some 1.2 million square feet. Colliers markets the property for sale or leasing and provides property management services.

Last year, UMB Bank issued a $31.8 million construction note set to mature in 2026, CommercialEdge shows. The construction team included general contractor Miller Valentine Construction and designer MCA Architecture, as well as engineers Alliance Consulting and S&ME.

The facility features 40-foot clear heights—the sole property with such specification in the entire central South Carolina market—and 52- by 56-foot column spacing, as well as a 65-foot speed bay, 92 dock-high doors, 26 dock packages with mechanical levelers and four drive-in doors.

Its truck court measures a depth of 185 feet with a 60-foot concrete pad, while the parking arrangements include 210 car and 135 truck spaces.

Located on roughly 50 acres at 201 Integrity Way in Calhoun County, the building is roughly 2 miles from U.S. Route 176 and Interstate 26—one of the three major interstates running through South Carolina which also connects to Interstate 95, providing access to the Eastern corridor. The Columbia Metropolitan Airport is some 12 miles northwest.

Colliers Managing Director Chuck Salley together with Vice President Thomas Beard and Senior Associate John Peebles are handling the property’s marketing efforts. The trio is also part of the Society of Industrial and Office Realtors.

Bringing online industrial facilities inside a 760-acre park

The newly constructed facility is inside the larger 760-acre Sandy Run Industrial Park which features tenants such as Amazon, Nephron Pharmaceuticals, Zeus, Starbucks and Home Depot. Also owned by Red Rock Development, the park can accommodate roughly 6 million square feet of industrial development.

Red Rock’s property at 201 Integrity Way was its second development at the industrial campus. The developer’s first, 497,952-square-foot speculative facility, debuted last year. UMB Bank also financed its construction with a $31.7 million note due to mature next year, CommercialEdge data shows.

Smart Warehousing—a fulfillment company operating as an extension of its clients—preleased the entire facility in 2022. After landing the tenant, Red Rock sold the property to LBA Logistics.

Columbia industrial deliveries slow, vacancy tightens

As of September, Greater Columbia’s industrial pipeline comprised 1.7 million square feet of product underway, according to a report by Colliers. Developers brough online 141,000 square feet of space during the third quarter, a substantial quarter-over-quarter decrease in industrial deliveries measuring 421,100 square feet.

As fewer products came online, industrial net absorption was positive at 396,400 square feet during the three-month period ending in September, the Colliers report shows. Last quarter’s supply glut caused a negative net absorption of 79,800 square feet from April to June.

Metro Columbia’s vacancy rate tightened, decreasing 46 basis points quarter-over-quarter and clocking in at 4.05 percent in September, the same source shows. However, the figure is higher compared to last year’s 2.85 percent during the same period.