An international logistics company has signed on as the anchor tenant for a new distribution facility that will be built in a North Charleston industrial park, according to Childress Klein Properties and real estate investment firm Jamestown.
JAS Forwarding USA will lease 78,000 square feet at Crosspoint 1, a built-to-suit building with an additional 104,000 square feet of speculative industrial space available in 2013.
The company, a subsidiary of JAS Forwarding Worldwide, will relocate from existing Charleston-area facilities. JAS Forwarding’s Charleston branch is currently located in Ladson, on Benchmark Drive.
“We are looking forward to moving into this build-to-suit facility providing us with space needed for growth in the years to come,” said JAS Forwarding USA President and CEO Adrian Emmenegger.
Crosspoint 1 is part of a 305-acre, mixed-use industrial development site within Palmetto Commerce Park.
The area along Palmetto Commerce Parkway in North Charleston has been sprouting new industrial buildings like weeds. Safelite, Tighitco, Streit Armored, Roper St. Francis Healthcare and Charleston County are putting up a combined 383,000 square feet of Class A industrial space there this year.
The parkway has taken on the nickname “Boeing Corridor” due to its proximity to Boeing’s facilities. The Crosspoint 1 site is about nine miles from Boeing’s Dreamliner assembly plant and directly across Palmetto Commerce Parkway from the Boeing Interiors fabrication facility.
The spec space in the Crosspoint 1 development is a rarity in the area. Until very recently developers have been hesitant to build top-quality industrial space without a client already signed up to lease.
“With Class A vacancy of less than 3 percent in Charleston and a strong anchor tenant in JAS, we felt comfortable taking some leasing risk to attract other prospective tenants,” said Matt Harper, partner with Childress Klein in Charlotte.
Reach David Slade at 937-5552 or Twitter @DSladeNews.