FOR IMMEDIATE RELEASE
Cabarrus Economic Development
Robert Carney, Executive Director
The Silverman Group Announces Continued Development Plans
Phase III will have over 1.5 million square feet of industrial space
Oct. 17, 2017 – CONCORD, NC – The Concord Airport Business Park (CABP) Phase III, owned and managed by The Silverman Group, has announced its future plans for continued development in Concord. The Silverman Group will invest $56 million on 1.5 million square feet of state-of-the-art industrial space at Phase III.
Blake Silverman, president of The Silverman Group, said, “We are extremely pleased with the early success of Phase III of CABP. With the recent additions of JJ Haines as well as Classic Graphics to the park, we look forward to continuing the momentum as we develop this project. The uniqueness of the CABP is that we can offer prospective tenants the opportunity to lease from 50,000 up to 450,000 square feet.”
Phase III will consist of four buildings: Building 1 will be 500,798 square feet, Building 2 will be 252,464 square feet, Building 3 will be 299,638 square feet and Building 4 will be 451,074 square feet respectively. The buildings are situated on 136 acres and are located within 1.5 miles of Interstate 85.
“The Silverman Group has demonstrated how investment leads to opportunity,” said Steve Morris, chair of the Cabarrus County Board of Commissioners. “We’re glad to see this area grow to meet its potential as an industrial hub within Cabarrus County.”
Both Cabarrus County and the City of Concord provided speculative development grants on portions of Phase III.
“The Phase III expansion of the Concord Airport Business Park is positive progress for the City of Concord,” said Concord Mayor Scott Padgett. “The availability of existing buildings is essential to enticing manufacturing firms to locate and/or expand in our City and provide good paying jobs.”
It is anticipated that Phase III will be completely developed by the end of 2018.
“The Silverman Group recognizes how much industrial activity we have here in Cabarrus County,” said Robert Carney, executive director of Cabarrus Economic Development. “We are proud to have them as a partner and are excited to fill these buildings with good companies that create good jobs for the community."
About The Silverman Group
The Silverman Group is a family owned and operated private equity and real estate development organization. Based in Short Hills, New Jersey, the firm owns and manages over 10,000,000 square feet of office, industrial, retail and aviation properties as well as ownership in 2,500 multi-family units throughout the United States. The Silverman Group has over two and a half million square feet of commercial space and 2,000 multi-family units currently under development in three states. To learn more about The Silverman Group, please visit http://www.silvermangroup.net