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One of Amazon’s Third-Party Logistics Providers Signs 508,000-SF Deal in Charlotte-Area Business Park

NFI to be Sole Tenant in Logistics 77 at Riverwalk, McCraney Property’s First Southeast Expansion Project to Complete Construction
August 8, 2018
NFI Industries, one of the primary third-party logistics providers for e-commerce giant, Amazon.com, leased a 507,512-square-foot distribution facility within the 1,000-acre mixed-use development Riverwalk Business Park in Charlotte suburb, Rock Hill, SC.

The business park’s developer, West Palm Beach, FL-based McCraney Property Co., recently announced the firm signed a deal with NFI, which will be the sole tenant of the facility, dubbed Logistics 77 at Riverwalk.

According to CoStar data, the deal was signed in the second quarter of 2018, but the tenant is expected to move into Logistics 77 at Riverwalk once a certificate of occupancy has been secured for the facility, located at 845 Paragon Way.

Local media outlets have reported that Amazon has finalized plans in June to build a $200 million distribution center near Charlotte's Douglas International Airport. It is unclear, however, if whether or not NFI's lease has any connection to the proposed Amazon facility.

McCraney Property broke ground on Logistics 77 at Riverwalk in 2017 and completed construction on the facility this June. The single-story building is the firm’s first project to complete construction as part of its expansion throughout the Southeast, which includes more than 7 million square feet of speculative industrial projects either under construction or in the pipeline.

Steven McCraney, president and chief executive of McCraney Property, noted that NFI’s lease accounted for more than a third of the market’s net industrial absorption for the second quarter of 2018, which totaled about 1.4 million square feet.

According to CoStar data, the year-to-date industrial net absorption in the Charlotte area currently sits at 5.7 million square feet, with approximately 4.8 million square feet of industiral space under construction.

Warren Snowdon and David Hanna of Foundry Commercial’s Charlotte office represented McCraney Property in the deal. Steve Lowe, Frank Larsen and Stewart Hasty of CBRE reprented NFI locally.
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