Atlanta Property Group has entered the Greenville, S.C., market with the acquisition of a Class A distribution heart spanning 173,000 sq. ft in Greer, S.C. Fastener firm Lindstrom beforehand owned the asset, CommercialEdge data exhibits.
The ability at 6 Shelter Drive had been below the identical possession for practically twenty years and was totally leased at closing. The 2004-built warehouse options 32-foot clear heights, a 140-foot truck courtroom and an ESFR sprinkler system.
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The ten-acre property is roughly 13 miles east of downtown Greenville, lower than 1 mile from Interstate 85. Greenville-Spartanburg Worldwide Airport operates about 2 miles away.
Atlanta Property Group has acquired 15 industrial belongings since 2022. By yr’s finish, the corporate plans to speculate $100 million of dedicated fairness into distribution facilities in markets resembling Atlanta, Charlotte, N.C., Greenville, Savannah, Ga., Nashville, Tenn., and Raleigh, N.C., in addition to Central Florida metros.
Greenville’s industrial belongings promote for greater costs
Better Greenville will proceed to draw distribution tenants as a consequence of its location alongside I-85 and enterprise pleasant local weather, in addition to the continuing reshoring efforts, APG Companion Smith Haverty stated in ready remarks.
Through the first quarter, metro Greenville industrial belongings traded for practically $100 per sq. foot, up 17.8 p.c year-over-year, in response to CommercialEdge information. Nonetheless, simply 233,494 sq. ft modified arms—a pointy decline from the 1.9 million sq. ft that bought through the first three months of 2024.
