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California company to develop speculative project at Apple Valley

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A California-based developer has purchased 39 acres in Spartanburg County with plans to develop a 373,320-square-foot speculative project.

This is a rendering of a 196,000-square-foot speculative building under development at the Apple Valley Industrial Park in Duncan. (Rendering/Provided)

Panattoni Development Co. Inc. will invest more than $22 million in the new development at the Apple Valley Industrial Park in Duncan.

“Panattoni is motivated by the development opportunities the South Carolina Upstate currently presents, in particular the Greenville-Spartanburg market,” said Kevin Casteel, development manager with Panattoni, in a news release.

A 177,320-square-foot building at the park has already been leased to an unnamed tenant. The remaining 196,000 square feet is set to be delivered in the second quarter of 2018.

Panattoni is working with CBRE and Broadstreet Partners LLC in the marketing of the development.

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