Colliers facilitated the leases for CED Greentech, the Marwin Company and AGP Glass at the speculative building in Lexington County Industrial Park
Columbia, SC - Magnus Development Partners has completed the development and construction of 321 Logistics, a 181,440-square-foot, state-of-the-art industrial building in Lexington County Industrial Park in West Columbia, SC. The development is named accordingly for its strategic location along Highway 321 which is less than one mile from the intersection of I-77 and I-26.
Chuck Salley, SIOR, Dave Mathews, SIOR, Thomas Beard, SIOR and John Peebles of Colliers | South Carolina’s industrial brokerage team in Columbia represented Magnus Development in leasing the building to three separate tenants before construction was completed. CED Greentech leased 68,040 square feet in July 2021, The Marwin Company leased 56,700 square feet in February 2022 and AGP Glass leased 56,700 square feet in March 2022. Colliers also represented CED Greentech and AGP Glass in the transactions.
CED Greentech is the leading solar equipment distributor in the U.S. CED moved from another West Columbia location to a larger space at 321 Logistics to serve an expanding client base as its distribution requirements grow. This location serves South Carolina markets as well as Charlotte, Asheville, Augusta and Savannah for solar equipment, product expertise and sales support needs.
The Marwin Company was founded in Cayce, SC in 1947 as an attic stair manufacturer. It is now an industry leader for the residential construction industry providing energy-saving attic access solutions, pocket door frames, knee-wall doors, and interior french and louver doors. The Marwin Company moved some of its current operations to 321 Logistics to better meet its space requirements for manufacturing, storage and distribution as demand for its products grows.
AGP Glass expands the boundaries of conventional glass products by offering smart technologies to enable electric and autonomous mobility, enhance connectivity and transform the in-cabin user experience. 321 Logistics is the company’s first location in South Carolina and the facility’s purpose is to serve as a satellite plant where final components are adhered to the glass, also keeping in mind client-supplier proximity strategies to generate logistic cost savings and undermine risks.
“The expansion of two successful industries in Lexington County, coupled with the recruitment of an innovative automotive supplier, is indicative of our community’s business-friendly climate and strong workforce environment,” said Lexington County Council Vice Chair Beth Carrigg. “We applaud Magnus for their continued investment in industrial buildings in Lexington County and look forward to continuing to work alongside their team, as well as Colliers, to build upon Lexington County’s positive growth trajectory.”
“The industrial demand in central South Carolina continues to show its strength while existing availabilities are scarce,” said Salley, Managing Director | Industrial Services in Colliers’ Columbia office. “321 Logistics was the last available Class A industrial space in the market until new construction delivers in the fourth quarter of 2022. Because of that, tenants are considering executing leases well in advance of a building’s delivery to secure space within buildings under construction or planned.”
Magnus Development’s next projects in the central South Carolina market include 803 Industrial Park, a partnership with CAE Airport consisting of up to one million square feet across four buildings, and Access 77 in Northpoint Industrial Park in Blythewood, a pad-ready site with plans to construct at 210,600-square-foot building.
“We continue to develop industrial buildings throughout the state,” said Kevin Werner, Partner with Magnus Development. “The demand for Class A industrial buildings in the Midlands region is significant and we intend to satisfy the demand with state-of-the-art facilities for tenants of all sizes.”
Magnus Development is a privately held, South Carolina-based real estate developer focused on delivering single tenant build-to-suits, spec industrial buildings and corporate advisory services throughout the Southeastern United States. With over 50 years’ experience in commercial real estate, Magnus founders have developed properties for some of the nation’s most recognizable companies, including Home Depot, Iron Mountain, Starbucks, Domino’s Service Centers, Tractor Supply, Husqvarna and others.
Salley, Mathews, Beard and Peebles are the leading industrial brokerage team in central South Carolina, specializing in leasing, user sales and investment sales of industrial properties. Their multifaceted platform gives them a unique insight into market conditions for all types of industrial properties.