Cherokee County has been the quiet neighbor next to Spartanburg for years. Gaffney is known for the Peachoid water tower and the outlet mall on I-85. Not exactly a commercial real estate hotspot. Until now.
First Solar’s $330 million investment with 600 jobs changed the equation. That’s not a small project in a county this size. It’s a genuine economic catalyst, and the ripple effects are already starting to show up in property demand.
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**Proximity to I-85**: Direct corridor access is essential for appreciating assets. Off-corridor properties are not benefiting equally. -
**Supply Chain Position**: Are you serving First Solar and its suppliers? Or are you trying to serve local demand? Your tenant profile determines your pricing. -
**Industrial vs. Other Uses**: Industrial and flex are winning. Retail and office are secondary. Know what type of property you’re holding.
What First Solar means for the market
Here’s the thing about a big manufacturer moving in. It’s never just the one company. First Solar needs suppliers. Their employees need housing, food, services. Contractors need space to support the construction phase and then the ongoing operations. A $330 million facility doesn’t operate in isolation. It brings an entire ecosystem with it — maintenance companies, logistics providers, staffing agencies, restaurants for the workers, you name it.
Cherokee County Growth Is Corridor-Specific
Three quick questions about your property’s position:
- Are you on or near I-85? Direct corridor access is where growth is concentrated.
- Can you serve First Solar or its supplier base? Supply chain tenants are paying strong rents.
- Is your property industrial/flex or retail/office? Industrial is winning; others are secondary.
I’m already hearing from property owners in the Gaffney area who are getting calls from companies looking for space. Some are directly related to First Solar’s supply chain. Others are just benefiting from the increased economic activity and the fact that Cherokee County is suddenly on people’s radar. Either way, the demand for industrial and flex space in this corridor is picking up in a way it hasn’t before.
| Cherokee County / Gaffney Snapshot | Details |
|---|---|
| First Solar Investment | $330M, 600 jobs |
| I-85 Access | Exits 90-102 |
| Distance to Spartanburg | ~25 minutes |
| Distance to Charlotte | ~50 minutes |
| Industrial Land Cost | Well below Spartanburg and Greenville |
The I-85 advantage
Cherokee County’s positioning on I-85 is genuinely good. You’re between Charlotte and the Greenville-Spartanburg metro, with access to both labor markets. That’s the same pitch that worked for Gaffney’s outlet mall decades ago, and it works for industrial too. A distribution tenant in Gaffney can serve customers in both Charlotte and the Upstate without being in either expensive market. The labor is cheaper. The land is cheaper. The taxes are competitive. For a company that doesn’t need to be in a major metro, the math is hard to argue with.
The land costs are still well below Spartanburg County. For an industrial user who needs acreage, Cherokee County offers sites at $2-4/SF that would be $6-8/SF closer to Greer or Duncan. That math matters when you’re building a 200,000 SF manufacturing plant. On 20 acres, that’s a difference of hundreds of thousands of dollars just on the dirt. Add in lower property taxes and you can see why site selectors are looking here.
Related: Hold or Sell Your Commercial Property: How to Decide
Related: Hampstead and the US-17 North Corridor
Related: How I Determine My Offer Price
What this means for property owners
If you own industrial property in Cherokee County, you’re in a better position than you were two years ago. Period. The First Solar announcement put the county on the map for industrial site selectors. When those people start looking at a county, they look at everything — not just the one specific site. Your building or your land parcel might catch the eye of a company that came to the area because of First Solar but needs a different location or a different building type.
I’ve been looking at deals in Gaffney and along the I-85 corridor through Cherokee County. The existing industrial buildings here are older — a lot of former textile facilities and basic warehouse space. But the bones are often good. High ceilings, concrete floors, decent column spacing. Some of them need roof work or updated electrical. That’s fine. I buy as-is and do the work myself. A 40,000 SF former textile building with 20-foot ceilings and a new roof is a perfectly good industrial building.
Commercial land in this corridor is also on my radar. Parcels near I-85 exits with utilities and proper zoning are getting more attention than they used to. If you’ve been holding land waiting for the right moment, the First Solar effect might be creating that moment right now.
For more on how this fits into the broader Spartanburg County industrial picture, check out my Spartanburg market report on the Upstate industrial corridor.
Seller takeaway
Cherokee County is growing, but not evenly. If you own property in Gaffney or Cherokee, understanding whether your location is positioned to capture the First Solar boom is essential. Call Roth Capital at 704-600-3839 for honest feedback on your property’s position.
Own property in Cherokee County? I’m interested. Let’s talk about it. 704-600-3839.
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