North Signal—Westport JV Plans Industrial Development in SC
ByA joint venture between North Signal Capital and Westport Capital Partners has acquired two industrial sites at North Pointe Commerce Park from WestRock. The JV plans to turn the Charleston, S.C., space into a 250,000-square-foot Class A building.
“The Industrial market in Charleston has averaged single digit vacancy over the last 10 years,” Peter Goulding, North Signal Capital LLC’s partner, told Commercial Property Executive. “Charleston continues to experience outsized economic growth which has created an unprecedented demand for quality industrial product. The lack of entitled industrial land and available buildings makes this the ideal time to develop speculative industrial product.”
Additionally, the joint venture will develop roughly 130,000 square feet of industrial space on the sites, collectively known as “North Pointe Commerce Park.”…
