Overview
Cushman & Wakefield, as exclusive advisor, is pleased to offer the opportunity to acquire 3043 Crenshaw Parkway (the “Property”), a 113,763 square foot manufacturing facility situated on ±7-acre site located in Richburg, SC and in the dynamic Southeast growth market of Charlotte, NC. The operating business has occupied the premises since 1994 experiencing two changes in ownership. Marcegaglia, an Italian steel processor with $7.5B in estimated 2025 revenue, has occupied the premises since 2022 following their ±$228M acquisition of Outokumpu’s ‘Stainless-Steel Long Products’ business in 2023 and executed a 12-year renewal in November 2025 demonstrating a strong commitment to the location.
Strategically located just ±0.5 miles from I-77 in Charlotte’s Chester County industrial submarket, the Property benefits from quick access to one of the Southeast’s major logistics thoroughfares providing a direct route to Charlotte’s booming MSA population of over 2.9 million residents and Columbia’s growing MSA population of 786k residents, making this a highly sought-after manufacturing hub for name brand global and national users.
Investment Highlights
Strong Private Credit & Occupancy Tenure
- 100% leased to Marcegaglia, a family-owned Italian steel processor with meaningful scale across Europe and North America featuring $7.5B in estimated 2025 revenue
- Independent operating company (Marcegaglia Richburg, LLC) executed a 12-year lease renewal that commenced in November 2025 and exclusively operates out of this location producing $150M+ in annual revenue
- The operating business has occupied the premises since 1994, changing ownership two times during their tenure, proving the business’ long-standing operational importance and the site’s sustained necessity
Secure In-Place Cash Flow with Little Rollover Risk
- 10.0 years of remaining lease term providing highly durable annual cash flow and a long-term tenant in-place that holds two (2) renewal options for five (5) years each at the greater of FMV or 110% fixed-rate increases
- 3.0% annual in-place rent escalations provide a long-term hedge against inflation
- Favorable net lease in-place providing landlord with minimal capital risk
Premier Logistics Location
- The Property is strategically positioned along I-77 providing unparalleled access to the Southeast’s major population nodes sitting just ±38 miles from Uptown Charlotte and ±55 miles from Downtown Columbia
- The Charlotte MSA has become one of the premier manufacturing, distribution, and logistics markets in the Southeast with Chester County, SC ranked as the #1 county in the MSA for manufacturing job growth
- Charlotte has grown to the 14th largest city in the U.S. after experiencing the nation’s 6th largest population increase in 2024 with over 157 inbound residents per day
Photo Gallery
Investment Sales Team
