Former manufacturing facility at The Grounds at Concord to be demolished
Demolition will create one of the premier supersites in the Southeast
CONCORD, N.C., Jan, 16, 2019 – Bootsmead LeaseCo LLC (Bootsmead) is pleased to announce that it plans to start demolition of the former manufacturing and distribution facility at The Grounds at Concord within the next 30 days. The demolition of the facility, which totals 3.5 million square feet and covers approximately 500 acres, will take the balance of the year to complete. In total, the site encompasses just over 2,000 acres.
In consultation with state and local officials, the owners of The Grounds at Concord have opted to clear the site in order to create a clean canvas that will appeal to potential users and economic development prospects interested in Concord and the greater Charlotte region.
“This is a great day for Concord,” said Concord Mayor Bill Dusch. “While the former Philip Morris plant is a proud chapter in our community’s history, we are excited to move forward and believe a greenfield site of this magnitude will catalyze economic development in Concord for years to come. We are grateful for Bootsmead’s partnership and long-term commitment to our community.”
In 2018, Bootsmead hired JLL Carolinas to market the site, which boasts superb interstate access, substantial in-place utility infrastructure, a minimum of 35 megawatts of power, Norfolk Southern rail access and proximity to the Charlotte metro area’s attractive labor pool.
“By making this investment to remove the plant, we believe we will be well positioned to demonstrate the incredible potential of The Grounds at Concord to prospective users and capture the imagination of job creators who want to be part of the region’s growth story,” said Wellford Tabor, managing partner of Bootsmead. “We’re very excited to take this important step and start a new chapter with this phenomenal property and the Concord community.”
“It is critically important that we have available real estate to accommodate the types of industries looking at North Carolina today, and The Grounds at Concord is responding to that demand,” said Chris Chung, CEO of the Economic Development Partnership of N.C. “When demolition is complete, this site will join several other premier megasites across our state and will be an important asset as we recruit new business and economic activity to North Carolina.”
Located along U.S. 29, The Grounds at Concord offers unparalleled transportation access with four separate four-laned routes to Interstate 85. The site can be divided into multiple parcels that would support a variety of uses. The demolition of the plant will not impact economic development efforts.
D.H. Griffin Companies will be performing the demolition on the project. Chase Monroe, Pete Pittroff, John Cashion, Louis Stephens and Britten Mathews of JLL Carolinas are marketing The Grounds at Concord and are working closely with the Cabarrus Economic Development team. To learn more, please visit www.thegroundsatconcord.com.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.