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GCP to Develop 442,896 SF of Industrial Product in Carolinas

GCP to Develop 442,896 SF of Industrial Product in Carolinas

September 22, 2022

By Illyshia Parker – Commercial Real Estate Reporter, Birmingham Business Journal
Original Post from Birmingham Business Journal

Growth Capital Partners (GCP), a Birmingham-based private real estate investment company, is partnering with Houston, Texas-based developer Phelan-Bennett Development (PB) an affiliate of Phelan Development Company, LLC under a forward-progress agreement to develop two speculative industrial projects in Gastonia, North Carolina, and an additional speculative in Fort Mill, South Carolina, for GCP’s Fund II.

GCP acquired a 17.3-acre site in Gastonia’s Northwest Gateway Logistics Park in April and PB will break ground in late September for a 132,395-square-foot and a 166,370-square-foot industrial warehouse with expected completion in Q3 2023.

The 15.47-acre site GCP acquired mid-August in Fort Mill at Lakemont Business Center will break ground on a 144,131-square-foot project in December with expected completion in Q4 2023.

The six total forward-progress projects GCP is currently working on will deliver nine buildings for a combined 1,688,511 square feet of industrial space for GCP’s Fund II over the next year.

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Birmingham, AL 35203

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