Sep. 26—HIGH POINT — Koury Corp. of Greensboro has launched its first project in High Point with a 94,160-square-foot industrial spec building that it’s developing and will construct starting next month.
The company says that the single-story building, at the southeast corner of Gallimore Dairy Road and Chimney Rock Road, is planned as the first of at least three more buildings to come at this intersection.
While no end-users have been announced, the company reports that there is strong demand for industrial space in today’s market.
It also has a 168,000-square-foot industrial spec building underway in Greensboro.
“This (High Point) property is near the Piedmont Triad International Airport, which has become a central location for warehouse, distribution and logistics for Greensboro, High Point and Winston-Salem due to its centralized location between the three cities,” said Mike Longmore, senior vice president of Koury Corp. “These buildings can play any number of roles that a business needs for them to play, from manufacturing to distribution to office space.”
Founded in 1952, Koury Corp. is well known for developing Triad sites like Grandover Resort & Conference Center, Four Seasons Town Centre and the Sheraton Hotel and Koury Convention Center.
It also has a construction division and owns and manages more than 5 million square feet of property in North Carolina, including more than 80 commercial properties, 1,400 hotel rooms and 1,800 apartments.
The project at 501 Gallimore Dairy Road is the first one Koury Corp. has developed in High Point.
The Enterprise reported in January that the project was coming when the company was getting the 9.5-acre site annexed and rezoned by the city.
The building is expected to be completed in the second quarter of 2022, according to the company.
A second phase will consist of three or more buildings on the northeast corner of the same intersection, with an additional 200,000 square feet of industrial space, the company reported.
Longmore said Koury just acquired this parcel, which is in Greensboro and is already zoned for industrial use.
He said leasing demand for the first building will determine when they will start phase two.
“With as much interest that we have now, we expect to start phase two sometime in 2022,” he said. “Gallimore Dairy Road will also be expanded soon, so the sites will be more desirable.”
In all, Koury Corp. says it’s planning to develop more than 30 acres between the two sites.
Elsewhere in Greensboro, the company is adding to its 86-acre Interstate Industrial Park at Interstate 40 and S. Elm Eugene Street with one industrial spec building under construction and two more in the planning stages.
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