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Keith Launching Spec Project in Lincoln County Park

September 26, 2003

A Charlotte developer is planning a $2.1 million speculative building n Lincoln County Industrial Park and may build two more. The Keith corporation which has an agreement with the county to help market and develop the park, broke ground for the initial 60,650 square foot spec building last week. A combination of timing, location and local government support convinced Keith to make an exception to its general rule against speculative development, says Greg Keith, company president and chief executive. Jerry Cochrane, chairman of the Lincoln Board of County Commissioners, says the spec project offers evidence that the county is bucking the development slowdown that’s affecting most of the Charlotte region. “This is not happening in too many counties in North Carolina,” he told about 30 people gathered for the groundbreaking. “For us to be running contrary to the trend is just wonderful.” The building will be constructed on 9 acres off Cataler drive, overlooking U.S. Highway 321. The building, which will be expandable to more than 100,000 square feet, will be suitable for a manufacturing or distribution tenant, Keith says. A site plan for Lincoln County Industrial Park shows room for two additional speculative buildings. The timetable for constructing those buildings will depend on how quickly a tenant is signed for the first building, says Alan Lewis, Keith director of corporate leasing. Plans call for the additional spec buildings to measure 60,000 and 110,000 square feet, respectively. They are planned off Lincoln County Parkway at Finger Mill Road, near the park’s entrance.