Red Rock Developments Advances Smith Farms Project Amidst Industrial Real Estate Growth
Portfolio | Dec 17, 2024 | Red Rock Developments LLC
Red Rock Developments LLC, a prominent player in the industrial real estate market, is featured in Southeast Real Estate Business for its strategic and adaptive approach in the sector. The article discusses the company's ongoing project in Smith Farms, located in Upstate South Carolina, where a 1.1 million-square-foot facility is available for lease. Despite slower than anticipated leasing activity, the company remains optimistic about future interest. Red Rock is preparing for the next phase, focusing on smaller speculative buildings and tailored build-to-suit opportunities to cater to evolving tenant needs. Additionally, the company reaffirms its commitment in Richmond, Virginia, where past success includes a 353,000-square-foot facility leased to Coca-Cola Consolidated. This demonstrates Red Rock’s ability to deliver value even in a competitive market.
Sectors
- Real Estate
- Construction & Development
Geography
- United States – Red Rock Developments operates primarily within the United States, specifically noted in Upstate South Carolina and Richmond, Virginia.
- South Carolina – The Smith Farms project being developed by Red Rock is located in Upstate South Carolina.
- Virginia – Red Rock Developments has a presence in Richmond, Virginia, where it has successfully completed projects in the past.
Industry
- Real Estate – The article focuses on Red Rock Developments' activities in the industrial real estate market, highlighting both current projects and future plans.
- Construction & Development – Red Rock Developments is involved in developing industrial spaces in various locations, demonstrating their role in construction and development within the real estate sector.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Red Rock Developments LLC | Developer | Company | A private equity firm engaged in industrial real estate development, particularly in the southeastern United States. |
| Leah Bailey | Senior Vice President of Leasing | Person | Leah Bailey is the Senior Vice President of Leasing at Red Rock Developments, responsible for overseeing leasing activities. |
| Coca-Cola Consolidated | Tenant | Company | A tenant in one of Red Rock Developments' completed projects in Chesterfield County, Virginia. |