Under Armour Looking For Commercial Real Estate In The South
Under Armour is an apparel company based in Baltimore, Maryland that has taken the entire apparel industry by storm over the past few years. It is a company that has essentially grown out of nowhere and was started in 1996. Under Armour was started in an industry with intense competition from massive apparel companies like Nike, Adidas, Reebok and many others. The company is an incredible success story of founder Kevin Plank growing the business from a small time shop being run out of his grandmother’s garage to a worldwide, publicly traded company.
With this growth Under Armour has opened offices and warehouses around the world. In it’s latest move Under Armour is looking for commercial real estate in which to build a 2 million square foot distribution center.
South Carolina On The List for High Profile Commercial Real Estate
Under Armour has narrowed down their choice to three cities – Nashville, Atlanta and a South Carolina city, likely The Upstate, Greenville/Spartanburg. This commercial real estate deal would pave the way for Under Armour to build an $80 million distribution center. The company has similar facilities in Rialto and Curtis Bay California. Under Armour is thought to be finalizing a build site in the next few weeks.
What Would This Mean For South Carolina Commercial Real Estate?
If a company like Under Armour were to choose a South Carolina site for their next commercial distribution center, it would be a huge win for the state for a variety of reasons.
· Exposure – A publically traded company like Under Armour is incredibly influential and building a large distribution center in our state would bring a lot of media attention as well as attention from other growing companies. This additional exposure could lead to other companies looking for commercial real estate space in South Carolina. Many times when one large company chooses a state for their headquarters or distribution center other companies take notice.
· Tax Benefits – When a company like Under Armour chooses a state, they are also instantly infusing significant tax resources into the local community. The taxes alone from a 2 million square foot distribution center could be used to improve education and infrastructure in South Carolina.
· Jobs – As the news continues to point to high unemployment, if Under Armour were to build a large commercial real estate space in South Carolina, it would likely mean a significant number of new jobs for the area.
Spencer Hines – Leader in South Carolina Commercial Real Estate
We all hope that Under Armour chooses Greenville for their newest distribution center. If you or your company is interested in moving to the South Carolina area, give the professionals at Spencer Hines a call at 864-583-1001 to discuss a variety of commercial real estate options.
