GREENVILLE, S.C. — Greenville County Council has signed off on tax incentives for two industrial projects in Piedmont that together represent $73.8 million in planned investment, according to the Greenville Journal’s recap of the council’s Nov. 3 meeting.
The council approved, on final reading, a fee-in-lieu-of-tax (FILOT) agreement with Sterling Grove PG LLC tied to a $43.8 million investment to build a new industrial facility at 7 Sterling Grove Road. In a second ordinance, it approved a FILOT and special source credit agreement with RTCO SC Packaging LLC, which plans to put $30 million into expanding its existing packaging products plant at 1701 Old Grove Road. The RTCO expansion is expected to create 50 jobs, the Greenville Journal reported. No job figure was given for the Sterling Grove project.
The Sterling Grove Road address is already being marketed to industrial users. A CBRE listing describes the site as build-to-suit with occupancy ready in 2027 and shows a conceptual facility of 607,770 square feet, divisible to spaces as small as 50,000 square feet. Listing data on CommercialCafe puts the planned building at up to 673,920 square feet, with 40-foot clear heights and 100 dock-high doors. Neither listing names an end user. At 1701 Old Grove Road, a LoopNet listing describes a Class A industrial building of about 336,850 square feet on a 54-acre site in Augusta Grove, completed in 2023.
The approvals add to a run of large industrial commitments in Piedmont. Isuzu North America is investing $280 million to turn a 1-million-square-foot facility there into a truck assembly plant expected to create more than 700 jobs and start production in 2027, according to a GVLtoday BizBrief roundup of Greenville-area plant and headquarters announcements.
Demand for space across the market remains strong. Greenville’s industrial market has recorded 11.6 million square feet of net absorption so far this year, with total vacancy at 6.5% across 257 million square feet of inventory, SCBIZ reported when global brokerage JLL opened its first Greenville office in October.
For commercial real estate professionals, the two deals show how FILOT agreements continue to support both new construction and expansions of existing plants in southern Greenville County. A FILOT replaces standard property taxes with a negotiated payment over a set term, which can help large build-to-suit projects such as the Sterling Grove facility pencil out for developers and future tenants. RTCO’s decision to grow at its current Piedmont address, meanwhile, adds manufacturing jobs without pulling another building off the market.
Sources: Greenville Journal, CBRE, CommercialCafe, LoopNet, GVLtoday, SCBIZ
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