Electrolux has named a Columbia firm, Red Rock Developments, to head the $85 million expansion of its North American headquarters in University Research Park.
Electrolux has entered a 20-year lease with Red Rock. Red Rock will handle the financing and development of the new building, to be constructed next to the appliance maker’s North American headquarters on David Taylor Drive.
“Electrolux is excited about our new business expansion, which will accommodate our growing (research and development) and product development teams,” said Edward Corpe, senior director of engineering for Electrolux North America.
Red Rock, which focuses on built-to-suit development of single-tenant office, industrial and retail projects, has also entered into a joint venture with Marc Realty out of Chicago to jointly finance the Electrolux deal.
Electrolux North America late last year announced plans to roughly double its headquarters workforce by adding 810 workers and spending $85 million on a six-floor, 375,000-square-foot building.
It marks Electrolux’s second expansion at the location in three years.
“We are very fortunate to have been selected for this project and excited for Electrolux,” said John Barker, president of Red Rock. “I am proud of our entire team for the tremendous effort and commitment they have made to Electrolux for this important project.”
Frazier: 704-358-5145; @Ericfraz on Twitter
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