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814,000-SF Spartanburg logistics park sells for $99.5M
The buyer, Invesco Real Estate, acquired the 70-acre Crossroads Logistics Park, which was fully leased at closing with more than five years of average remaining lease term.
ConnectCRE reports that Brennan Investment Group and Grandview Partners sold Crossroads Logistics Park, an 814,000 square foot industrial campus in Spartanburg, South Carolina, for $99.5 million.
According to the report, Commercial Search said Invesco Real Estate was the acquirer. The campus was 100% occupied at the time of sale, and the average remaining lease term exceeds five years.
The property at 151 International Park Drive includes two 168,480-square-foot facilities and a 477,360-square-foot warehouse across 70 acres. ConnectCRE also notes the site is near Interstate 85 in South Carolina’s Upstate logistics corridor that links Charlotte, North Carolina, and Atlanta, covering 10 counties.
Construction began in March 2022 with J.M. Cope Construction as general contractor, and JLL Capital Markets led negotiations for the sellers, with Dave Andrews, Pete Pittroff, Michael Scarnato, Michael Lewis, and Jack Barnes listed as deal participants.