Pacolet Milliken LLC (Pacolet) announces the 100% lease up of Ft. Prince Commerce Center (Ft. Prince) a recently constructed, 440,000 SF Class A industrial warehouse, located along interstate 85 at 200 Fort Prince Rd, Wellford, SC. The facility was leased to a global manufacturing and product development company, which is utilizing the market-leading functional attributes of the facility to support its regional distribution footprint. Terms have not been disclosed.
Clay Adams, President of Pacolet Milliken Real Estate noted: “In the 4th quarter of 2020, Pacolet Milliken signaled its commitment to the South Carolina industrial market with the purchase of Ft Price, which was substantially complete but still vacant. At that time, the US economy was severely impacted by the Covid-19 pandemic, and the institutional warehouse market was early in its recovery. In less than one year we have leased the entire property, which validated our thesis in all respects.” Among other attributes, the cross-docked facility has 36-foot clear heights, ESFR fire protection, over 100 dock doors, extensive auto and trailer parking, and can accommodate heavy-power users such as the new tenant. The property also has over 1,500 feet of frontage along interstate 85 and is visible to approximately 100,000 vehicles per day.
Adams continued, “We want to thank Spartanburg County, a proactive and dependable partner, as well as the team at Colliers International, which represented us in the purchase and the lease of the property.”
A long-time South Carolina landowner and investor, Pacolet Milliken has recently engaged in a new round of value-creation initiatives – partnering with market-leading industrial, residential, and mixed-use developer to unlock value in its 4,500-acre South Carolina portfolio as well as by engaging with other landowners across the State as partners. These include additional new projects in Spartanburg County as well as initiatives in Charleston, Laurens, Orangeburg, Union and Pickens counties.