An industrial park with over half a century of history near Mount Holly has a new owner, which plans to revitalize it.
Charlotte-based investment group Red Hill Ventures has acquired a park with 335,400 square feet of industrial space and 39,600 square feet of office space for $11.25 million, according to Gaston County real estate records.
The park, which spans over 70 acres at 1310 Charles Raper Jonas Highway, has been rebranded as Carolina Industrial Park after the acquisition.
It was purchased in May from Stanley Real Estate LLC.
Article Credit: Charlotte Business Journal
The park's history dates to the 1960s, when a facility for Gaston County Dyeing Machine Co. was built there. Gaston Electronics, Auto Truck Transport, Metro Print, Worth Supply and Boxman Studios are existing tenants that will remain at Carolina Industrial Park.
What's next: Red Hill Ventures said the park has surface area and some warehouse space available now as it "finalizes expansion plans to the far side of the property," which could include additional development.
Brooks Whiteside, Daniel Marsha and Thomas Hipp of Whiteside Properties is aiding Red Hill Ventures' leasing efforts at Carolina Industrial Park. Whiteside Properties also represented Red Hill in the acquisition of the park.
"Gaston County has a long history of industrial work and manufacturing, dating back to the mid-1800s," Red Hill Ventures CEO Todd Collins said. "With this facility and our strategic partnerships, we will be able to merge the textile-producing history of the area with newer manufacturing innovators. Our key focus is on the needs of our professional tenants and their businesses and the greater impact on the surrounding community in Gaston County."
Red Hill Ventures has been headquartered in Charlotte since its founding in 2005. The company has projects in North Carolina, Texas, Maryland and Washington, D.C.