A Mississippi-based real estate company is proposing a major new industrial park in Steele Creek, which would bring up to 525,000 square feet of industrial, warehouse and office space.
The 49-acre site is located between Sandy Porter and Gable roads, bounded on the south by I-485 and on the north by Shopton Road. The rezoning request would cover a wooded and vacant area, wrapping around St. Joseph Vietnamese Catholic Church. The land is currently zoned for a residential subdivision, and the proposed zoning would be industrial.
EastGroup Properties, the developer, already operates a 250,000 square-foot industrial park and distribution center next door, Steele Creek Commerce Park, at the corner of Steele Creek and Shopton roads. The company, a real estate investment trust that specializes in developing and managing industrial properties, operates 10 such properties total in Charlotte.
Here’s a quick EastGroup primer: “The Company’s strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply-constrained submarkets. EastGroup’s portfolio, including development projects in lease-up and under construction, includes over 36 million square feet.”
The plan is up for a rezoning hearing in front of Charlotte City Council in January.