Real estate investment firm acquires 1M-square-foot Fort Mill industrial park

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Rockefeller Group, a real estate developer, owner and investor, has sold Stateline 77, a two-building, 1.07 million square foot fully stabilized industrial park in Fort Mill, to EQT Exeter, the real estate division of EQT Group AB.

“Rockefeller Group is pleased to have found a buyer who plans to make Stateline 77 part of their long-term portfolio as they expand their business within the region,” said Steven McGee, vice president for Rockefeller Group, in a news release. “EQT Exeter proved to be a terrific partner to work with, who appreciated the scale of the park, its infill location and diverse tenancy.”

Financial terms of the deal were not disclosed.

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In September, Silfab Solar, a North American solar panel manufacturer, announced plans to expand its U.S. footprint by establishing operations in York County at the larger of the two buildings, a 786,167-square-foot cross-dock located at 7149 Logistics Lane, the release stated. The company plans to invest $150 million and create 800 new jobs.

A second building, a 221,000-square-foot distribution center was fully leased in 2022 by two tenants, Element Designs, which leased 112,840 square feet, and Motion Industries Inc., which leased the remaining 108,160 square feet.  The building is located at 7107 Logistics Lane.

“This acquisition represents our commitment to acquiring high-quality, class A industrial space in some of the top industrial markets in the country,” said Thomas Nielsen, Carolinas’ market officer for EQT Exeter, in the release.  “Rockefeller Group had a clear vision for the project, was able to deliver both buildings to us fully leased, and we look forward to working with them on future opportunities.  Additionally, the JLL capital markets team was terrific to work with and facilitated a smooth transaction.”

Stateline 77 is located along Interstate 77 just south of Charlotte on 77.5 acres the company acquired in 2019. Both buildings were completed in 2022.

JLL’s Spencer Yorke and Brad Cherry were the exclusive leasing agents on Stateline 77, according to the release.  JLL’s Pete Pittroff, Dave Andrews, Josh McCardle, Michael Scarnato and Britton Burdette represented Rockefeller Group on the sale to EQT Exeter.