814K-SF Spartanburg Industrial Park Trades for $99.5M

Brennan Investment Group and Grandview Partners sold Crossroads Logistics Park, an 814,000 square foot industrial campus in Spartanburg, SC. The sales price was $99.5 million.

Commercial Search reports that Invesco Real Estate acquired the asset. The campus was 100% occupied at the time of the sale. The average remaining lease term exceeds five years.

Crossroads Logistics Park, 151 International Park Drive, comprises two 168,480-square-foot facilities and a 477,360-square-foot warehouse. Spanning 70 acres, the campus is close to Interstate 85, known as South Carolina’s Upstate logistics corridor, which connects Charlotte, N.C., and Atlanta and covers 10 counties.

Brennan Investment Group started construction in March 2022, with J.M. Cope Construction as general contractor.

JLL Capital Markets’ Dave Andrews, Pete Pittroff, Michael Scarnato, Michael Lewis and Jack Barnes led negotiations on behalf of the sellers.

Connect

Inside The Story

Brennan Investment Group

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

Order Reprints