National Property Developer, Foundry Commercial, Acquires Former Wells Fargo Office Site

National Property Developer, Foundry Commercial, Acquires Former Wells Fargo Office Site

Foundry Commercial, a nationally recognized full-service real estate firm, has made a record purchase for a 32-acre site in Fort Mill, where it plans to launch a multi-tenant industrial project. According to real estate recordings, Foundry Commercial paid $15.8 million to acquire the site from LXP Industrial Trust.

From Office Buildings to Industrial Park

The purchased Stateview Boulevard property in Fort Mill, currently holds two office buildings, accounting for over 330,000 square feet. These were previously occupied by Wells Fargo Home Mortgage. Under LXP’s supervision, the site was sold by a CBRE team led by Patrick Gildea, following Wells Fargo’s vacating of the property.

Foundry Commercial has already initiated the demolition of the existing office buildings which is expected to make way for its planned industrial development project.

Design Features and Delivery

The industrial development envisions a sprawling 467,000-square-foot space that will encompass three separate buildings. Each building is being designed to accommodate multiple tenants, with space as low as 30,000 square feet. It also allows for flexibility in accommodating full-building users up to 200,000 square feet. The commercial property developer projects delivery of the industrial park by third quarter of 2025.

Strategically located just off Exit 90 of I-77, near the North and South Carolina state line, the Stateview Boulevard property presents an excellent location for industrial operations. The rezoning approval for the site was secured earlier this year from the York County Council.

Project Leadership and Expansion

Casey Mulhern, David Hanna, and Ben Rowell from Foundry Commercial are spearheading the leasing efforts for the Stateview Boulevard industrial park. Other project contributors include Edifice Construction, Merriman Schmitt Architects, Oak Engineering, and Hoopaugh Grading Co.

This latest acquisition demonstrates Foundry’s growing presence in the Charlotte area’s industrial scene. It complements their ongoing projects in Bessemer City and Huntersville. Lending credibility to their growth, the Florida-based developer has secured a rank within the top 15 in the Charlotte Business Journal’s list of the most active commercial developers in the Charlotte market over the last five years.

Notably, this ongoing expansion of Foundry’s industrial portfolio in the region is indicative of the broader growth observed in the Charlotte industrial marketplace, as developers capitalise on heightened demand for logistics and distribution centres fuelled by the rise in e-commerce.

It will be interesting to see how Foundry continues to navigate the competitive industrial space landscape and cater to this growing market demand, unlocking further opportunities in the region’s real estate sector in the coming years.