May
21

MWV, SunCap Plan Spec Building in Hanahan

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mwv hanahanMWV and SunCap Property Group are developing a 350,856-square-foot Class A speculative building at the North Pointe Business Campus on North Rhett Avenue in Hanahan.

The spec building is designed for distribution companies or light manufacturers. Company officials said the spec building is needed in the Charleston market where demand for more move-in ready, Class A space is high.

“By all measures, Charleston is a strong, undersupplied market,” Kenneth T. Seeger, president of MWV Community Development and Land Management, said in a news release. “Over the last year, we’ve seen record low vacancies for Class A product. Demand in both manufacturing and distribution sectors is far exceeding supply, and we feel the timing is right for this project.”

Charlotte-based SunCap Property Group completed a 254,000-square-foot distribution center for FedEx Ground in Spartanburg last year. The firm also developed a building in the North Pointe Business Campus in 2009, which is currently occupied by XPO Logistics, formerly known as New Breed Logistics.

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