News Summary
Crossroads Logistics Park in Spartanburg County has reached full occupancy thanks to a long-term lease signed by a major manufacturer. This reflects the growing industrial real estate market in the region, with an increase in leasing activity and several companies planning significant investments expected to boost local economic growth. The leased facility spans 477,360 square feet and is part of a larger strategy to attract more businesses to the area, driven by regional demand and government initiatives.
Spartanburg – The largest building at Crossroads Logistics Park in Spartanburg County has achieved full occupancy following the signing of a long-term lease by a leading manufacturer. This milestone was announced by JLL on September 30, highlighting the growth of the region’s industrial real estate market.
The leased facility spans 477,360 square feet and is classified as a Class-A building, a designation that indicates it meets high standards in terms of construction quality and functionality. Crossroads Logistics Park, located at 171 International Park Drive, features three Class-A buildings, offering a combined total of over 800,000 square feet of warehouse space.
As the Greenville-Spartanburg industrial market continues to exhibit robust activity, data reveals that over the past 12 months, there has been more than 11 million square feet of leasing activity in the region. This figure marks an impressive 45% increase when compared to the previous year, reflecting a surging demand for industrial space. Furthermore, six companies are set to initiate significant projects in nearby Anderson County, which are expected to foster economic growth anticipated for 2025 and beyond.
Among the companies expected to contribute to this development are Structural Systems, Vertiv, Michelin, Halton MEI, Harbor Freight, and HS Buildco. Collectively, these companies have pledged total capital investments amounting to $99.5 million, which will be accompanied by an annual payroll of $37.1 million. Their projects are projected to generate 511 new jobs in Anderson County, further bolstering the local economy.
Specific details of the investments show that Carolina Structural Systems plans to establish its first facility in South Carolina, committing $4.7 million and creating 60 jobs. Vertiv will expand its presence in the area with a $1 million investment, leading to the creation of 300 jobs. Michelin’s expansion includes a significant $58 million investment, generating 51 jobs with an average hourly wage of $31.50.
In addition, Halton MEI is launching its first South Carolina manufacturing site in the county with a $2.6 million investment, which will result in 65 new jobs. Harbor Freight Tools is establishing a $30 million innovation facility in Anderson County, expected to yield 36 new jobs. Lastly, HS Buildco is investing $5 million in various projects across Anderson and Greenville counties, which is anticipated to spur regional economic development.
To further enhance industrial opportunities in the area, the Anderson County Council has amended an ordinance to develop a joint county industrial and business park. This move is part of a broader strategy aimed at fostering economic growth and attracting businesses who wish to invest in the region.
Additionally, the Spartanburg industrial market has gained recognition as one of the fastest-growing in the nation, driven by factors such as population growth and access to a skilled workforce. Notably, Rockefeller Group is developing a substantial 1.02 million-square-foot distribution center in Spartanburg, which is expected to be completed by the fourth quarter of 2024.
In another development, SmileMakers, a Berkshire Hathaway company, has renewed its lease for industrial distribution space at Fairforest Industrial Park in Spartanburg, where it has operated since 2009. This renewal signifies the continued reliance on Spartanburg’s logistical advantages by established companies in the region.
The combination of rapid leasing activity, planned investments, and local government initiatives are indicative of a vibrant and expanding economic landscape in the Greenville-Spartanburg area, setting a positive tone for future growth.
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Additional Resources
- Upstate Business Journal: JLL Announces Long-Term Lease at Spartanburg’s Crossroads Logistics Park
- Independent Mail: Companies Investing in Anderson County
- Greenville Business Magazine: Rockefeller Group Developing Distribution Center in Spartanburg
- Google Search: Spartanburg business news
- Colliers: SmileMakers Renews Lease at Spartanburg Distribution Facility
- Encyclopedia Britannica: Industrial Real Estate
Author: STAFF HERE SPARTANBURG
The SPARTANBURG STAFF WRITER represents the experienced team at HERESpartanburg.com, your go-to source for actionable local news and information in Spartanburg, Spartanburg County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Spartanburg International Festival, Spartanburg ArtWalk, and motorsport events at Spartanburg Speedway. Our coverage extends to key organizations like the Spartanburg Area Chamber of Commerce and the Spartanburg Regional Healthcare System Foundation, plus leading businesses in manufacturing and textiles that power the local economy such as BMW Manufacturing and Milliken & Company. As part of the broader HERE network, including HEREAiken.com, HEREBeaufort.com, HEREChapin.com, HERECharleston.com, HEREClinton.com, HEREColumbia.com, HEREGeorgetown.com, HEREGreenwood.com, HEREGreenville.com, HEREHiltonHead.com, HEREIrmo.com, HEREMyrtleBeach.com, HERENewberry.com, HERERockHill.com, and HERESpartanburg.com, we provide comprehensive, credible insights into South Carolina's dynamic landscape.
