The strong industrial market continues to bring new tenants to the SouthPoint Business Parks. Polaris has started moving into a new 404,738 SF facility in SouthPoint Huntsville, AL; Scott Bader will be moving into a 108,960 SF in SouthPoint Mocksville, NC; and, a “confidential project” will be moving into a 253,052 SF facility in SouthPoint Mocksville, NC.
Scott Bader, our newest tenant in SouthPoint Mocksville, NC has a rare corporate structure for a manufacturing company. Originally founded in 1921, the company was changed to a common trusteeship in 1951. Their shares are held in trust by the Scott Bader Commonwealth Limited, a company limited by guaranty and a registered charity. Having no external shareholders, they cannot be acquired so they are more focused on long term company goals than a typical publicly traded company. Due to their unique ownership, they focus on a balance between social purpose and business needs and are committed to supporting their people, society, and the environment. Since employees are owners in the company, they have been excellent stewards in the communities where they operate.
Scott Bader is a leader in the manufacturing of products for composites, advanced composites, adhesives and functional polymer markets, offering a full range of technologies and manufacturing capabilities for many market sectors. They remain committed to providing quality and innovation through an ongoing investment in R&D. They balance their business needs with a scorecard with a
specific element on society. They are continually challenging themselves that all business lines they are in really adds value to society, and the Commonwealth Board is actively developing ways to engage more colleagues in charitable actions.
As a result of this strong market, we have started two new speculatively complete facilities to be completed in Q2 2022. The first facility will be a 108,480 SF single tenant building located in SouthPoint, AL. This will be the 12th industrial facility in this park. The SouthPoint Business Park, Huntsville, AL is located adjacent to both I-65 and I-565.
The second facility will be located in David Jones Industrial Park, Andersonville, TN. This industrial facility will be 126,824 SF and is a mirror image to the building next door leased to Hemasource. David Jones Industrial Park is located just east of I-75 in Anderson County, TN.
A 194,880 SF complete speculative building was completed this quarter in SouthPoint, Prince George, VA and a 650,250 SF facility in the same park is on schedule to be completed before the end of Q4 2021. Both facilities are available for lease by long-term tenants in the light manufacturing or distribution markets.
The industrial market continues to expand in the Southeastern United States, and The Hollingsworth Companies is well suited to support this expansion with speculatively complete facilities available for immediate occupancy in Alabama, North Carolina, Tennessee, and Virginia.