Crescent Communities Starts Construction on New Industrial Building at Lakemont
CHARLOTTE – (RealEstateRama) — Crescent Communities has commenced construction on Lakemont East, an innovative industrial building in Fort Mill, South Carolina.
Lakemont East, which offers 201,000-square-feet of multi-use space, is the latest addition at the 864-acre Lakemont Industrial Park, where Crescent has developed more than 5 million square feet of space in Charlotte’s Southwest and York County submarkets. Located on Springhill Farm Road off Carowinds Boulevard, Lakemont East features an innovative design and sustainable features.
“Crescent has a distinguished history as an industrial developer, and we felt the time was right to put this incredible industrial site into production,” said Brian Leary, president of commercial and mixed use at Crescent Communities. “We’ve brought Crescent’s value of “always innovating” to bear on this infill site to deliver a building the market has told us it wants.”
Lakemont East’s location provides immediate and unparalleled access to I-77 and I-485 in the extremely competitive southwest Charlotte submarket. In addition, the building’s 32-foot clearance height will accommodate uses from warehouse/distribution and light and heavy manufacturing.
“As e-commerce continues to grow and affect the way companies manufacture goods to consumers, retail and logistic companies are seeking space in next-generation industrial buildings that typically are located in infill areas,” Leary said. “These next-gen buildings are more efficient and allow tenants more flexibility than the big-box distribution centers that were popular over the past decade.”
Crescent hired Merriman Schmitt Architects and Gensler to design the building. US Bank is providing construction financing for the building.
“With limited options for new industrial manufacturing space, Lakemont East will appeal to tenants who want to be part of this thriving submarket but who also value the thought and creativity that went into its design,” said CBRE’s Anne Johnson, who will market and lease the property with Bryan Crutcher.
“Based on Crescent’s development history in the Charlotte-York County submarket and overall lack of industrial supply, we expect Lakemont East to be very successful in attracting tenants,” Johnson said. “Crescent also has several sites for future developments in the well-located and fast-growing region.”
Lakemont East is on-schedule to be completed in mid 2017.
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