City of Kannapolis issued the following announcement on Oct. 24.
The Kannapolis City Council and Fortius Capital Partners celebrated the groundbreaking of Lakeshore Corporate Park this morning.
The corporate park will be located on a 55-acre site at Lane Street near the I-85 Exit 63 interchange and has excellent access to Charlotte and Greensboro. The property is next to Lake Fisher which is a protected reservoir. It was the former site of the Intimidators Baseball Stadium.
Fortius Capital Partners is a Concord-based developer who is partnering with Stonemont as the capital partner and Choate Construction as their general contractor. The group plans to build three industrial buildings on the site, ranging from 125,000 square feet to 300,000 square feet. The total development is expected be approximately 700,000 square feet on about +/- 34 acres of the site, the overall development cost will be in excess of $50 million in development costs.
Fortius plans to target manufacturing, light assembly, and distribution companies to move into the buildings and bring hundreds of jobs to the City. Expected buildout is about three to five years. The developer will donate three acres at the north end of the site for the City to use for a future fire station.
“We are pleased to be able to begin this project in Kannapolis. We are building a Class A corporate park which will be ideally suited for many different companies due to the close proximity and easy access to interstate I-85, the strong labor pool and immediate connectivity to the overall greater Metro Charlotte region. Having a beautiful neighbor, Lake Fisher and the many amenities located in the City of Kannapolis are just a couple of the strong attributes that drew us to this location,” said Dave Davis, with Fortius.
“We are excited to be at this point – shovels turning dirt. This means we are months away from adding to our inventory of great places where people can work and companies can fulfil their mission of providing quality jobs and products for our citizens. We look forward to watching this property develop into a corporate campus,” said Kannapolis Mayor Darrell Hinnant. “With our recent designation as a Top 15 Location for Corporate Relocations we expect a lot of interest in the site.”
Fortius Capital Partners has over 22 years of commercial real estate experience. The development group is currently building out Meadows Corporate Park in Concord and have redeveloped the Old Creamery building in Concord.
Original source can be found here.
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