Business

Fortune 50 company to open large distribution center

By Bill Moss, Published: August 18, 2021

A Charlotte-based commercial real estate developer has confirmed plans to invest $60 million to build a 250,000-square-foot distribution facility in Mills River that it will lease to a Fortune 50 company, Henderson County Commission Chair Bill Lapsley announced on Monday.

SunCap Property Group, a national commercial development that specializes in single-tenant build-to-suit facilities, bought 42 acres in Ferncliff Industrial Park, currently the home of the Sierra Nevada Brewing Co. and GF Linamar, which makes parts for the automotive manufacturing industry.
“On behalf of the town of Mills River we want to welcome SunCap to Ferncliff Industrial Park,” said Roger Snyder, a Mills River Town Council member. “We think that they will be a great addition. We also want to thank the Fitzpatrick family for working with the town in securing this new company.”
The addition of major new employer is notable because the unnamed corporation that will lease the building has not asked for economic development incentives in the form of property tax breaks from either Mills River or Henderson County. Two other recent additions in Mills River, the Amazon and Lowe’s distribution.
Asked why the corporation didn’t receive incentives, Lapsley said, “They didn’t ask for them.”
He said he does not know when or if the tenant would publicly announce its plans to open for business here, adding that its identity could become known the way it did with the Amazon warehouse — when the sign went up.
Among the projects SunCap features on its website are a high-end apartment building in Charlotte, a General Electric research and development facility in Pittsburg and a state-of-the-art automated sorting facility in Queens, New York, for FedEx Ground.

The purchase of 42 acres at Ferncliff Park leaves about 30 acres available for development.