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The Silverman Group plans another Speculative Development in Cabarrus


Published Tuesday, May 19, 2015

Media Contact:
Patrick Coughlin
President and CEO
Cabarrus Regional Chamber of Commerce &
Cabarrus Economic Development
704.782.4000
pcoughlin@cabarrus.biz       

 

 

Kannapolis, N.C., May 19, 2015— The Silverman Group plans to construct a 108,000 square foot speculative building in Concord with a projected investment of approximately $7 million.  The flex building will be located on a twelve acre parcel on Aviation Boulevard near the Concord Regional Airport.  The flex space will feature a 32’ clear height and can be subdivided.  The Silverman Group has constructed over 552,000 square feet of speculative distribution space in Concord.  They recently purchased another 136 acres on Derita Road for future development.

“We are pleased to continue our successful partnership with the City of Concord, Cabarrus County, and Cabarrus Economic Development. The support from the community is important to our collective success in bringing industry and jobs to the area.” Blake Silverman stated. Continuing “We believe there is demand for higher end building product, with enhanced exterior finishes”.

“With the proximity to Concord Regional Airport”, commented City of Concord Mayor Scott Padgett, “the upcoming widening of Derita Road, and improved I-85 interchanges at Poplar Tent Road and Highway 73, I believe this investment will result in additional jobs for our citizens.”

Because of the level of investment and the fact that the building will be flex space, allowing for a variety of industrial uses, the City of Concord approved a performance grant for the Silverman Group.

“The Silverman Group’s repeated investment in local spec space affirms Cabarrus County’s economic potential,” said Cabarrus County Board of Commissioners Chair Steve Morris. “Adding flex space offers so many benefits to our community—perhaps none greater than opportunities for growth amongst new or expanding businesses in our area.”

Cabarrus County also approved a performance grant for the development.

“The Silverman Group is a great partner for our community,” said Patrick Coughlin, President and CEO of the Cabarrus Regional Chamber and Economic Development Corporation. “They were one of the first developers to commit to speculative building here after the Great Recession. This flex space helps dramatically as we work to help existing companies expand and attract new companies to our County.”

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