Washington, D.C.-based Penzance has acquired Southgate 77, a 220,000-square-foot Class A industrial warehouse in Rock Hill, South Carolina, within the Charlotte Metropolitan Area. Colliers served as the sole advisors on the sale transaction.
The acquisition is Penzance’s first industrial investment in South Carolina, adding to the firm’s growing portfolio across the Southeast. Located at 1203 Galleria Boulevard, Southgate 77’s immediate access to I-77 makes it a premier location for logistics and light manufacturing users. Built in 2024, the property benefits from strong tenant demand and limited new supply in the Charlotte industrial market.
“Southgate 77 represents a significant step in Penzance’s expansion of its industrial footprint into high-growth Southeast markets,” said Bob Bechtel, Vice President of Investments at Penzance. “With its best-in-class construction, strategic connectivity, and access to a robust labor pool, this acquisition is in keeping with our vision of expanding Penzance’s diversified portfolio, delivering long-term value for our investors.”
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