Quick Facts
Location
Rock Hill, SC
365 East Springdale Road
Size
557,035 SF
Year Built
2016 & 2017
Project Details
Timeline
Aquired: 2017
Sold: 2020
Occupancy
Ross
3% Office
Property Level IRR
20.10%
Project Notes
Lease-to-Core Case Study
Acquired Legacy Park West, two newly constructed Class A warehouses totaling 558,000 sf located in Rock Hill, SC. At the time of acquisition, Building One (126,000 sf) was 100% leased to Elite Logistics and Building Two (432,000 sf) was under construction, representing a significant value-add opportunity. In addition, the acquisition materially enhanced GCP’s portfolio in terms of quality and provided an opportunity to own a new property without taking development risk.- Secured a 10-year lease with Ross Stores for 100% of Building Two
- The long-term lease with an investment-grade retailer generated substantial value creation
