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$120M: Price Tag for 1M-SF Distribution Facility in Greenville-Spartanburg
CRG has disposed of The Cubes at Inland 85 – Building C, a 1.4-million-square-foot, Class A distribution facility in Greer, SC, for $119.5 million. The facility, which is fully leased by Techtronic Industries Co. Ltd., was purchased by PRP.
CRG partnered with Atlanta-based The Net Lease Group to lead the disposition of the asset to PRP. (This deal is the first five industrial transactions from CRG to PRP involving 4.5 million square feet of Class A logistics properties valued in excess of $400 million.) Leasing was handled by Colliers.
The Cubes at Inland 85 – Building C was started by CRG as a speculative 500,000-square-foot building with the ability to expand up to 1.4 million square feet. Techtronic worked with CRG to expand the facility to its current size.
“We have a high level of conviction in the Greenville-Spartanburg market and it’s been incredible to see our strategy play out successfully,” said CRG president Shawn Clark.
- ◦Sale/Acquisition
