The town of Summerville has been working to bring more businesses to the area. And, over the past several years, it has had great success. According to a recent article in The Post and Courier, a new major commercial development is currently underway in Summerville.
New Summerville Commercial Development Tops 1.1 Million SF
The Post and Courier reported in June 2021 that a massive warehouse and logistics space is currently under development in Summerville. Billed as a space to accommodate the storage and shipping needs of eCommerce sellers, the new distribution center will top 1.1 million square feet.
The project is part of the Crossroads Logistics Center, located at the Jedburg exit along Interstate 26. The large logistics building is scheduled to be completed by the end of 2022. And the company is planning an additional 1.53 million square feet of space in subsequent phases of construction.
Speculative Industrial-Grade Construction in SC
The planned Crossroads Logistics project is just one addition to a trend in speculative industrial-grade projects throughout the Charleston area. Specifically, the project owners have not secured any tenants yet for their building.
Another similar speculative project is the Charleston Trade Center, a 1 million square foot commercial structure also located in Summerville. This one is being built by a partnership between Pure Development and Citimark Realty, who joined to purchase the property along the I-26 corridor for about $8.75 million.
The developers have good reason to be optimistic with the Port of Charleston nearby and its recent expansion efforts. That said, Walmart also has about 3 million square feet worth of space under construction in Ridgeville that will serve as distribution space for its stores in a 150-mil radius.
Business Development in Summerville SC
The town of Summerville continues to expand, and local officials want the progress to continue. In May, the town council approved a “Summerville Open for Business Progam,” which would provide performance-based reimbursements to businesses that bring new jobs to the area. These incentives could help developers recoup up to half the cost of a project.
Commercial Real Estate Services in Summerville and Charleston
The upcoming developments in the Summerville and Charleston area are exciting for businesses and residents alike. If your business has office, retail, or other commercial space needs, find out how we can help.
Caldwell Commercial Real Estate Services is your trusted partner for commercial real estate throughout the Charleston, SC, area. Our professionals have more than 80 years of combined experience in the industry, so you can have peace of mind knowing you will get the service and results you need. Contact us today for more information.