Greenville developer Mark Cothran believed the Upstate’s industrial property market would flourish over the past two years, and he acted on that belief.
Now he’s thinking of even more impactful ways to take area properties to the next level.
Cothran built two industrial buildings off of Pelham Road — a total of 200,000 square feet of space — without first having signed leases in hand. Those buildings promptly filled up with tenants at the corner of Pelham and Logue Court near ScanSource Inc.
Now, Cothran plans more speculative development two intersections away along Interstate 85.
He said he plans to build a 163,000-square-foot industrial building along I-85 near the intersection with Brockman McClimon Road and complete it by next summer.
It’s the first of several multi-tenant industrial buildings he plans on about 65 acres along I-85 for a total of 600,000 to 800,000 square feet of space.
What he’s calling the Global Commerce Park would rise along Clear Springs Court between Greenville-Spartanburg International Airport and BMW Manufacturing Co., but on the other side of the interstate.
The South Carolina Inland Port, a freight-handling facility operated by the South Carolina State Ports Authority, is seven miles away.
Cothran says he’s still “massaging” plans for the development.
“I have a good idea of what I want to do, but nothing’s settled one way or the other,” he said.
The Greer Commission of Public Works said it plans to provide sewer service to the property with the help of a $500,000 grant from the SC Department of Commerce and the Appalachian Regional Commission. The Greer utility also said the new service would benefit 1,200 acres that GSP owns and intends to develop.
Dave Edwards, GSP president, said the sewer service could be helpful in the future, but right now there’s no airport project that it would affect.
Randall Bentley, a principal in the Greenville office of Lee & Associates, a commercial real estate brokerage, is handling leasing at the planned industrial park.
Bentley said he’s gotten calls in just the past two weeks from three out-of-state brokers looking for available industrial properties ranging in size from 150,000 square feet to 300,000 square feet.
“The demand is extremely good, and supply is limited,” said Bentley, who’s been a commercial real estate broker in the Greenville area for more than three decades.
Companies that leased space in Cothran’s buildings off of Pelham Road include Silvercote, a provider of building insulation, and Henry Schein, a distributor of supplies for dentists, doctors, and veterinarians.