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PRP is developing a $185-million distribution center for Techtronic Industries Co. Ltd. In Greenville-Spartanburg, SC.

PRP to Develop $185M, Pre-Leased Industrial Facility in Greenville-Spartanburg

Washington, DC-based PRP has acquired a 1.9-million-square-foot Class A distribution center development in Greenville-Spartanburg, SC that, once complete, will be fully leased and occupied to an affiliate of Techtronic Industries Co. Ltd.

The total capitalization of the development is $185 million and will be fully completed by the fourth quarter of 2023. The property is a fully funded joint venture with Prairie Village, KS-based Flint Development.

The distribution center will be built to modern Class A property specifications including cross-dock loading configuration, 40-foot clear heights, 338 dock doors, a 185-foot truck court, and 835 spaces of excess trailer parking on 178 acres of land.

“This acquisition meets all of PRP’s most important investment criteria including new construction, a long-term net lease, a high investment grade credit quality tenant and location within a strong US logistics market,” said Joseph Neckles, PRP’s managing director and head of net lease investments.

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PRP's Neckles

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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