TriGate Capital Completes $12 Million Sale of 78-Acre Industrial Site in Rock Hill, South Carolina
Off-market Charlotte-area land position, sourced in 2020 and entitled alongside repeat partner MacKenzie Investment Group, is monetized without vertical development risk
TriGate Capital, LLC (“TriGate”), a leading middle-market real estate investment manager, today announced the sale of a 78-acre industrial development site in Rock Hill, South Carolina, to an undisclosed industrial developer for $12 million. The transaction closed in September 2026.
The site sits directly on Interstate 77 in York County, about 30 minutes south of downtown Charlotte and Charlotte Douglas International Airport, with convenient access to the Port of Charleston and the CSX Charlotte Intermodal. It is fully entitled for up to 942,000 square feet of industrial space across three buildings.
TriGate first identified the opportunity in early 2020 through its ongoing market coverage in Charlotte. Conversations with the region’s leading industrial brokerage teams kept pointing to the same gap: large-tenant demand was growing quickly, but there was very little modern big-box space or development-ready land to meet it. As a result, many requirements were going to Atlanta, Nashville, and Greensboro instead. Through its relationship with Cushman & Wakefield, TriGate was introduced to the Rock Hill parcel. It then brought in MacKenzie Investment Group, a repeat development partner with whom TriGate had previously developed and sold Crossroads Distribution Center in Jacksonville, Florida. MacKenzie led the zoning and site plan approval process with York County.
TriGate and MacKenzie acquired the parcel in March 2025. The site had been under contract for several years before closing, with the purchase contingent on the seller securing certain development rights. This structure let the partnership lock in an attractive land basis while entitlements were obtained, at a time when land values across the Southeast were rising sharply and entitled, utility-served industrial sites near major interstates were becoming increasingly scarce.
The Rock Hill site was later included in a broader Southeast industrial land venture between TriGate and MacKenzie. That venture was built around a patient, unlevered strategy that kept several paths open. Depending on market conditions, the partnership could develop speculatively, pursue build-to-suit opportunities, or sell land to users or other developers. As interest rates rose and new industrial supply increased, this flexibility allowed the partnership to keep watching tenant demand, competing supply, and construction costs before deciding how to proceed.
“This site is an excellent example of TriGate’s flexible and creative industrial strategy,” said Adam Aultz, Chief Investment Officer of TriGate. “We identified a real shortage of large-format industrial sites in the Charlotte market early on and worked with a trusted partner to secure and entitle a well-located site along I-77. We were confident that a site of this quality in the rapidly growing Charlotte industrial corridor, at our basis, would give us the flexibility to be patient as we determined the best path forward for our investors. Ultimately, we were able to monetize our investment at an attractive price without taking vertical development risk.”