Red Rock Developments Lands Full-Building Tenant – Commercial Property Executive

Red Rock Developments has preleased its first speculative distribution facility at Sandy Run Industrial Park in Columbia, S.C. Smart Warehousing signed a full-building lease for the 497,952-square-foot project that’s expected to be completed in the second quarter of 2023.

Colliers’ Chuck Salley, Dave Matthews, Thomas Beard and John Peebles represented Red Rock Developments in the transaction, while Smart Warehousing was represented by Lee & Associates’ John Sharpe and John DeCuto. Red Rock started site work on Sandy Run Industrial Park’s first building in April, but officially started construction in June 2022, Beard told Commercial Property Executive.

The Class A facility will be one of the market’s largest speculative buildings, according to Red Rock. The cross-dock development will offer 36-foot clear heights, 56-foot by 52-foot interior bay spacing, 56-foot by 65-foot speed bay spacing, 200-foot deep truck court, 192 car parking spaces, 152 trailer parking spaces, LED lighting and an EFSR sprinkler system.

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Sandy Run Industrial Park will have direct access to I-26, while also being near I-20, I-77 and I-95. The industrial park’s location in Calhoun County puts it near major tenants and regional hubs like an Amazon Distribution Center, Nephron Pharmaceuticals, the UPS Air Hub and the Columbia Metropolitan Airport.

“Manufacturing is really the driver of our market, but we are seeing a lot more demand for distribution space,” Beard, vice president at Colliers, told CPE. “We’ve completed more lease transactions from a square footage standpoint with 3PL companies this year than ever before.”

“3PL activity is certainly a big driver for the tenant demand we’re experiencing right now,” Beard also told CPE, adding that there hasn’t been any product to accommodate distribution tenants who are looking for something in the 300,000 to 500,000-square-foot range.

6 MSF of industrial space

While the first speculative building within Sandy Run Industrial Park has landed a tenant, Red Rock is planning to introduce a total of nearly 6 million square feet of Class A industrial space within the park. The developer is looking to construct more build-to-suit and speculative buildings within the 760-acre Sandy Run Industrial Park.

Overall, Red Rock’s development strategy focuses on build-to-suit/lease projects, speculative development and industrial park development. The Columbia-based company has projects throughout the Southeastern, Mid-Atlantic and Midwest regions of the U.S., with a focus on industrial and distribution sectors in gateway markets.