Rock Hill, SC
365 East Springdale Road
2016 & 2017
Property Level IRR
Lease-to-Core Case StudyAcquired 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