Rock Hill Sees New Industrial Development with Selwyn Waterford Project
Rock Hill, South Carolina, is welcoming a significant addition to its industrial landscape with the recent completion of the Selwyn Waterford project. Developed by Selwyn Property Group in partnership with CIP Real Estate, this ambitious project features two buildings totaling 240,000 square feet of commercial space, strategically located at 656 Red River Road in the Waterford Business Park.
Project Overview
Construction on Selwyn Waterford began last year, driven by the rising demand for versatile industrial spaces in the Charlotte region, of which Rock Hill is a key part. As of now, the buildings are open for lease and are designed to host multiple tenants, thereby adapting to the changing needs of the market.
According to Bradley Dunn, who is overseeing leasing for the project at Stream Realty Partners, “Selwyn Waterford highlights how developers are adapting to shifting demand in the Charlotte area, where smaller, more traditional tenant profiles are becoming the norm.” Dunn emphasized that the buildings have been designed for efficiency and flexibility, with spaces starting at 28,000 square feet to meet the requirements of modern industrial users.
Financial and Real Estate Details
The land for the Selwyn Waterford project was purchased for nearly $2.5 million by an entity associated with Selwyn last year, covering approximately 25 acres of prime real estate in the business park, as confirmed by York County real estate records. This addition complements Selwyn’s growing portfolio, which includes a variety of industrial, office, and retail projects in and around the Charlotte region.
In the past year, Selwyn Property Group has made headlines for completing and selling the Selwyn Northridge, a 104,700-square-foot industrial building in Huntersville for $13.5 million. This growth signifies a robust expansion strategy in a region that is increasingly attractive for industrial development.
CIP Real Estate’s Role
CIP Real Estate, another key player in this project, has a history of involvement in Charlotte’s industrial sector as well. Their existing portfolio includes significant developments like the Whitehall Tech Center, further demonstrating their commitment to the region’s growth.
Future Outlook
The completion of Selwyn Waterford is expected to contribute positively to Rock Hill’s economy by providing more opportunities for businesses looking for flexible industrial spaces. The project’s adaptability aligns with current market trends and the increasing demand for smaller, more tailored commercial environments, making it a timely and relevant addition to the area.
As the leasing efforts go underway, all eyes will be on Selwyn Waterford to see how it fulfills its potential in accommodating businesses that aim to thrive in today’s evolving economic landscape.
