Legacy Park West sells to Alabama firm for $34M

Legacy Park West sells to Alabama firm for $34M

A recently delivered industrial park in York County has been sold for $34 million.

GCP, out of Birmingham, Ala., has once again bought into the Charlotte region with the acquisition of Legacy Park West in Rock Hill, which includes a 126,000-square-foot facility fully leased to Elite Logistics and a second 432,000-square-foot building that is being marketed by the local office of Avison Young.

John Hagefstration, executive vice president at GCP, said in a statement that the Legacy Park West acquisition brings to scale the firm’s Charlotte holdings, a market that’s been a “long-term target” for GCP.

GCP recently purchased another industrial property in the Charlotte region. It bought 10000 Twin Lakes Parkway, a 464,974-square-foot industrial building at Twin Lakes Parkway and Vance Davis Drive, in August for $22 million. Its holdings here also include the Vallen headquarters and distribution center in Belmont.

Chris Skibinski and Perry Major at Avison Young represented GCP in the transaction.

In the Southeast, GCP owns about 7 million square feet of industrial real estate. The company also recently acquired Lake County Distribution Center in the Orlando, Fla., region for $40 million. That property is 100% leased to Samsung SDS America and Niagara Bottling.

Legacy Park West was developed by a public-private partnership between the city of Rock Hill and Scannell Properties out of Indianapolis, with the goal of bringing more speculative industrial space to Rock Hill. The partnership is also planning a similar park nearby, which could include up to 11 buildings and 2.8 million square feet of space.

View original article from bizjournals.com here.