Charlotte, NC (January, 2014) – Merrifield Patrick Vermillion (MPV), one of the area’s leading providers of commercial real estate services, is pleased to announce the following 2013 developments at Bailes Ridge, a 300-acre business park in northern Lancaster County. Already home to companies such as Honeywell (a Fortune 100 company) and Grace Communications, the following companies will soon add to the Bailes Ridge community:
Keer Group Company LTD, a Chinese textile company, will begin construction this February on its first facility outside of China. The $218 million investment includes the purchase of over 100 acres that will serve as the location of its 230,000 SF manufacturing facility where production is expected to start by mid-2015. A 20,000 SF office building will also be built in Bailes Ridge to serve as Keer Group’s U.S. headquarters. This investment along with the estimated 500 jobs within the next 5 years is one of the single largest industrial investments in Lancaster County’s history.
The Sterling Group, in partnership with Braxton Development,purchased 21 acres within Bailes Ridge and is currently constructing a 246-unit luxury apartment community named ‘Enclave at Bailes Ridge”.
“We are extremely excited to be entering this market with Braxton Development. When we began researching various markets across the country to develop in, a few select markets, including Charlotte, NC continued to rise to the top. However, we knew we wanted to offer the lifestyle our apartment community provides to an underserved area. As we continued our research we found this submarket in Northern Lancaster County that caught our attention. The business fundamentals and strong leadership we found in Indian Land were some of the strongest we have seen and we knew it was a place we wanted to do business.”
John Ehrhardt, Assistant Vice President
The Sterling Group
Howe Roofs is relocating their Charlotte office and recently purchased a newly constructed 6,000 SF building in Bailes Ridge. Howe Roofs dates back to the 1940’s and is a leader in residential and commercial roofing needs with offices throughout the Southeast.
Bailes Ridge is located one mile from Highway 521 and offers companies a first-class environment, close proximity to south Charlotte’s professional amenities, and the prospect of the aggressive business incentives offered by South Carolina.
About Merrifield Patrick Vermillion
Merrifield Patrick Vermillion is one of the Charlotte area’s leading office, industrial, retail and land brokerage, and development and management firms. For more information, visit www.mpvre.com.