The Kannapolis City Council has approved a development proposal for the former Kannapolis Intimidators Stadium property.
The proposal will allow Fortius Capital Partners to purchase the former Kannapolis Intimidators Stadium for $3 million. The 55-acre site is located on Lane Street near the I-85 Exit 63 interchange and has excellent access to Charlotte and Greensboro. The property is next to Lake Fisher which is a protected reservoir.
The site is being sold now that the Kannapolis Cannon Ballers are located in their new home, Atrium Health Ballpark, in downtown Kannapolis. The former stadium will be transformed into a corporate business park by Fortius Capital Partners.
Fortius Capital Partners is a Concord-based developer who is partnering with Richardson Properties as the capital partner and Windsor Commercial as their general contractor. The group plans to build three industrial buildings on the site, ranging from about 100,000 square feet to 300,000 square feet. The site will now be known as Lakeshore Corporate Park. The total development is expected to be approximately 600,000 to 660,000 square feet on about 31 acres of the site, with about $49 million in development costs.
Fortius plans to target manufacturing, assembly, and distribution companies to move into the buildings and bring hundreds of jobs to the City. Expected buildout is about three to five years. The developer will donate three acres at the north end of the site for the City to use for a future fire station.
"Fortius Capital Partners is proud to be a part of the redevelopment of the former Intimidators Stadium into a first-class industrial park. We applaud the City leaders for their bold and transformative vision - not only for this site, but also for downtown - and are thrilled to be a part of that vision," said Harris Morrison, Managing Partner of Fortius Capital Partners.
"Richardson Properties is excited about the opportunity to partner with Fortius Capital Partners, Windsor Commercial and the City of Kannapolis. We believe this is a dynamic location that offers many of the key ingredients necessary to attract high quality tenants/employers that enhance an area’s tax base and quality of life,” commented Mark W. Shumaker, Vice-President of Richardson Properties.
“We look forward to working with Fortius and watching this property develop into a corporate campus with many jobs for our City residents and region, The protected watershed and most of the tree canopy will be preserved which allows this to remain a beautiful asset of our City while also becoming home to a number of new companies,” said Kannapolis Mayor Darrell Hinnant.
Fortius Capital Partners has over 22 years of commercial real estate experience. The development group is currently building out Meadows Corporate Park in Concord and have redeveloped the Old Creamery building in Concord.