New York-based Industrial/logistics REIT INDUS Realty Trust Inc. says it has acquired a to-be-constructed, approximately 280,000 square foot industrial/logistics building in Greenville-Spartanburg, SC. which is expected to be completed in the 2023 first quarter.

Michael Gamzon, President and Chief Executive Officer of INDUS, commented, “We are excited to enter Greenville-Spartanburg and expand our presence in the southeast along the important I-85 corridor, which is experiencing strong economic and population growth. The Greenville-Spartanburg industrial/logistics market benefits from a large manufacturing base, the Inland Port Greer railyard, a strong labor force and a strategic location between Charlotte and Atlanta. 

Closing on the purchase is subject to a number of contingencies including the satisfactory completion of due diligence by INDUS. There can be no guarantee that the Forward Acquisition will be completed under its current terms, anticipated timeline, or at all, INDUS warned.