Atlanta Property Group has entered the Greenville, S.C., market with the acquisition of a Class A distribution middle spanning 173,000 sq. ft in Greer, S.C. Fastener firm Lindstrom beforehand owned the asset, CommercialEdge data exhibits.
The ability at 6 Shelter Drive had been below the identical possession for almost twenty years and was totally leased at closing. The 2004-built warehouse options 32-foot clear heights, a 140-foot truck court docket and an ESFR sprinkler system.
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The ten-acre property is roughly 13 miles east of downtown Greenville, lower than 1 mile from Interstate 85. Greenville-Spartanburg Worldwide Airport operates about 2 miles away.
Atlanta Property Group has acquired 15 industrial property since 2022. By 12 months’s finish, the corporate plans to take a position $100 million of dedicated fairness into distribution facilities in markets similar to Atlanta, Charlotte, N.C., Greenville, Savannah, Ga., Nashville, Tenn., and Raleigh, N.C., in addition to Central Florida metros.
Greenville’s industrial property promote for increased costs
Larger Greenville will proceed to draw distribution tenants resulting from its location alongside I-85 and enterprise pleasant local weather, in addition to the continued reshoring efforts, APG Accomplice Smith Haverty stated in ready remarks.
Throughout the first quarter, metro Greenville industrial property traded for almost $100 per sq. foot, up 17.8 % year-over-year, in response to CommercialEdge information. Nonetheless, simply 233,494 sq. ft modified arms—a pointy decline from the 1.9 million sq. ft that offered through the first three months of 2024.
