A Charlotte-based industrial developer and a global real estate investment firm have partnered to build a large development just across the state line.

Collett Industrial has teamed with GTIS Partners on the development of a 107-acre opportunity zone site along Tribal Road in Cherokee County, South Carolina. The site is near Interstate 85.

Plans call for an industrial park totaling 850,000 to 930,000 square feet of warehouse space between two phases.

Construction is expected to begin in February.

The first phase of the project calls for industrial buildings of 225,000 and 200,000 square feet, respectively. The second phase will include either a single, 510,000-square-foot building or two buildings totaling 423,000 square feet.

The project represents the further expansion of Charlotte's industrial market along I-85, building on trends in recent years as developers snapped up large sites near the interstate.

 "Our team is focused on developing industrial projects across the Carolinas as we look to create jobs and meet the region's expanding business demands," said Ryan Mosser, partner at Collett Industrial. "We believe the I-85 corridor between Atlanta and Raleigh-Durham is one of the fastest-growing industrial corridors for distribution and manufacturing in the country."

Charlotte-based Collett Industrial has been an active player in the local region recently.

The firm announced earlier this year it would develop Northside 77, a three-building park in Troutman totaling 693,020 square feet. Collett Industrial previously developed Airport 85 Business Center, a 154,920-square-foot industrial building near Charlotte Douglas International Airport. That project was sold last year for more than $20 million to Ares Management Corp.

 GTIS Partners is based in New York but has offices around the world. It previously partnered with Collett Industrial on two projects in the Greenville-Spantanburg market.

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Article By Collin Huguley – Staff Writer, Charlotte Business Journal

Dec 13, 2023

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