Wharton Industrial Divests from 600K-SF Industrial Facility in Greenville
Wharton Industrial and partner Red Rock Developments have divested from Smith Farms, a two-building, 600,000-square-foot industrial development in Greenville, S.C. The sales price was not disclosed.
The partnership acquired the 47-acre parcel of land in 2018 and developed the warehouse facilities. The development sits in Greenville’s commercial area on State Route 101 and 296 and is just 4 miles from the BMW manufacturing plant, and 9 miles from Inland Port Greer, which provides direct access to the Port of Charleston. The development’s neighbors include Michelin, Valeant Pharmaceuticals and Amazon.
“We were immediately drawn to the Greenville area, which is centrally located between Atlanta and Charlotte and also benefits greatly from the presence of BMW’s manufacturing plant,” said Peter Lewis, Chairman of Wharton Industrial. “The demand for large industrial properties in the Sunbelt has only grown since we developed these facilities and we’re proud to capitalize on these market conditions and deliver strong returns to our investors.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.