Charlotte developer to build $20M business park in Johnston CountyDate Published:
A Charlotte-based commercial real estate developer will construct a 125,000 square foot business park near the intersection of Interstate 40 and Future Interstate 42 in Clayton.
The company, Johnston Flex LLC, intends to invest $20 million in the project, set to be marketed as Class A flex space.
Flex and industrial real estate are in high demand throughout the Triangle.
“This project brings additional industrial diversification and opportunity to Johnston County’s economy and labor market,” said Chris Johnson, director of the Johnston County Economic Development Office. “It’s exciting to see high-quality development and an area that is poised for continued success as businesses reconsider supply chains and look to build sustainable links to consumers now that the pandemic is behind us.”
There are already 1.4 million square feet of Class A industrial space either announced or underway in Johnston County.
“We continue to see steady, shared growth throughout Johnston County as we look forward to the development of the 42 West Business Park facilty,” said R.S. “Butch” Lawter Jr., chairman of the Johnston County Board of Commissioners. “With larger advance manufacturing projects announced here in Johnston County and around the Triangle Region, this unique flex space opportunity will help expand the County’s economic footprint, create more local small business ancillary job opportunities and bolster growth along the I-40 and I-42 corridor.”
MEET 42 WEST
The business park, which will be known as 42 West, is set to become operational in the third quarter of 2023, according to a statement. On the campus, there will be two single-story buildings, Johnston County Economic Development noted. Once complete and occupied, the buildings could employ as many as 100 workers, adding nearly $20 million to the Johnston County annual gross domestic product along with $150,000 in annual tax revenues for the county.
Johnson told WRAL TechWire that the investment in the business park will be made without any state or local economic incentives.
According to a business filing made with the North Carolina Secretary of State, Johnston Flex LLC was formed in January 2022. Ralph H. Falls, III, is the registered agent for the entity, according to the records. A LinkedIn profile for Falls indicates a current position as partner of Pace Commercial. Falls is also listed as the registered agent for six other business entities registered in North Carolina.
Original Article Source: WRAL TechWire