ICM is Pleased to Announce that Construction has Started at Phase II of Spartan Ridge in Spartanburg, South Carolina
December 19, 2019 (Spartanburg, SC) – ICM Asset Management is pleased to announce that construction has begun on Phase II of the Class A warehouse distribution facility in Spartanburg, South Carolina. Phase II follows the successful on-budget delivery and subsequent sale of the 273,000 SF facility built in Phase I.
“The Spartanburg submarket continues to be an area we are excited to be in, ranking in the top 10 markets in the U.S. for this type of asset,” said Spencer Patton ICM’s Managing Director. “We believe this is a terrific opportunity to continue to build in-demand space with a premier development partner.”
The Spartan Ridge Industrial Park site is strategically located 1 mile from I-85 on Nazareth Church Road in business-friendly Spartanburg County, in close proximity to BMW’s Spartanburg manufacturing campus, the Norfolk Southern Greer Inland Port and Greenville-Spartanburg International Airport. The site is also 4.5 miles from I-26, which provides direct access to the Port of Charleston. While this development is ideally located for Tier 1 automotive suppliers and light manufacturers required to locate within 10 miles of the largest BMW manufacturing plant in the world, it is also well suited for logistics operations serving the fast-growing local economy (1.44 million in population) and the Atlanta-Charlotte-Raleigh I-85 corridor mega-region.
The developer of the project is The Rooker Company, a 47-year-old family-run, full-service real estate development company focused on industrial, business parks and government leased facilities across the United States.
About ICM Asset Management
ICM Asset Management is an alternative asset manager focused on owning, operating and investing in real assets. We offer retail, private client and institutional investors an array of investment opportunities focused on real estate, private equity, private debt and infrastructure strategies. We are headquartered in Calgary and have offices in Atlanta, Munich and Mexico City. ICM Investment Management, a wholly-owned subsidiary of ICM Asset Management, is a registered investment fund manager (IFM) and portfolio manager (PM) with provincial securities regulators across Canada.
