Birmingham’s GCP completes large industrial lease

Birmingham’s GCP completes large industrial lease

Birmingham-based Graham Commercial Properties recently landed an enormous real estate transaction.

The company said it signed a lease for 431,035 square feet at the Legacy Park West property in Rock Hill, South Carolina. It is one of the largest industrial real estate transactions in the area, which is considered a part of the Charlotte, North Carolina, metro area.

The tenant is undisclosed but is a Fortune 500 company and signed a long-term lease.

The company acquired the 557,035-square-foot industrial Legacy Park West property in 2017, at which point it had a 126,000-square-foot lease with Elite Logistix, and a recently completed vacant portion totaling 431,035 square feet. This lease fills the entire property, which includes 32-foot clear heights, 34 dock doors with 98 positions available, four drive-in doors, T-5 high-bay lighting and 129 trailer spaces.

“The execution of this lease at Legacy Park is quite a significant achievement for GCP as it adds a significant value and credit enhancement to the portfolio,” said GCP Vice President of Investments Taylor Graham. Legacy Park West is situated near Interstate 77 and within 25 miles of Charlotte Douglas International Airport.

Avison Young Principal & Managing Director Christopher Skibinski and Senior Associate Henry Lobb represented GCP in the transaction, while Colliers International represented the tenant, according to information from GCP.

The deal brings GCP’s assets in the Charlotte area to 1.15 million square feet. The company, headquartered at downtown Birmingham’s Historic Federal Reserve building, has been growing rapidly in the last few years with acquisitions and developments in Southeastern industrial markets now totaling more than 7 million square feet.

View original article from Birmingham Business Journal here.