The Greenville-Spartanburg economy has a long legacy of being fueled by industrial activity. Today, the whole Upstate market continues to experience record levels of growth as it evolves into advanced manufacturing, automotive and distribution related activities. South Carolina is the largest exporter of goods on a per capita basis in the Southeast and has one of the highest densities of foreign direct investment per capita in the United States. The Upstate is the manufacturing center of South Carolina, with approximately 55 percent of the market’s 177 million square feet of industrial space classified as manufacturing. Due to the strong fundamentals of the market, manufacturing is expected to continue to grow. The metro offers manufacturers a pro-business environment, with skilled and affordable labor, a critical mass of industry and a solid transportation infrastructure with access to high population bases. Strategic Location The region is also becoming increasingly crucial to supply chains serving the East Coast and Southeast. The Upstate can reach over 95 million people within a day’s truck drive. With the continued proliferation of e-commerce, the Greenville-Spartanburg market provides an opportunity to mitigate transportation costs by allowing companies to leverage Inland Port Greer, which provides overnight service to and from …
Industrial
DALLAS — Lee & Associates has secured a 55,376-square-foot industrial lease at 2115 Exchange Drive in Arlington. Mark Graybill and Colton Rhodes of Lee & Associates represented the landlord, Global Logistic Properties, in the lease negotiations. Reed Parker of Lee & Associates represented the tenant, Blue Ribbon Delivery Inc., a transportation and logistics firm.
HOUSTON — JLL has negotiated a 41,458-square-foot industrial lease at 7875 Northcourt Road in northwest Houston on behalf of Asia Cabinetry, a wholesale cabinet distributor. The space will continue to serve as the company’s headquarters, although it represents an expansion from its previous space. Jeff Venghaus and Geoff Perrott of JLL represented Asia Cabinetry in the lease negotiations. Darryl Noon of Transwestern represented the landlord, CPF Alamo Crossing LLC.
GARDENA, CALIF. — Partners Capital has purchased a 15,000-square-foot industrial building, located at 510 E. Airline Way in Gardena. Jennifer M Anderson sold the property for $2 million. The building offers direct access to interstates 110, 91 and 405. At the time of sale, Sparks Recycling fully occupied the space. Remington Moss and David Bales of Lee & Associates represented the buyer, while Brent Daniels and Robert Colacion of Gateway Business Properties represented the seller in the deal.
CORINTH, TEXAS — Karr Self-Storage, a division of Marcus & Millichap, has arranged the sale of Anchor Bay Boat & RV Storage, a 593-unit facility in the North Texas city of Corinth. The property’s net rentable square footage is 71,185 square feet. Brandon Karr of Karr Self-Storage represented the seller, a private investor, in the sale. Karr, Danny Cunningham and Will Parisi of Karr Self-Storage procured the buyer, a Texas-based private investment group.
ORLANDO, FLA. — Exeter Property Group has broken ground on a 561,750-square-foot distribution center located at 9775 Air Commerce Parkway in Orlando. Situated adjacent to Orlando International Airport, the speculative building will feature 36-foot clear heights, 535-foot building depth, cross dock configuration, an ESFR sprinkler system, 185-foot truck court, 60-foot concrete truck apron, storage spaces for 112 trailers, 312 auto parking spaces and spec office space. GMA Architects designed the building, which is situated within the 230-acre Air CommercePark. Tampa-based ARCO Murray is the general contractor for the project, and Orlando-based Florida Engineering Group is the project’s civil engineer. Exeter expects to wrap up construction on the facility in February 2019.
FRANKLIN PARK, ILL. — Freight shipping and trucking company K2 Express has signed a 91,859-square-foot industrial lease renewal and expansion at 10800-10900 Belmont Ave. in Franklin Park. The company previously occupied 67,337 square feet at the 600,000-square-foot property, which is owned by Prologis. Brian Carroll of Newmark Knight Frank (NKF) represented K2 Express in the lease transaction. Scott Gibbel of Cushman & Wakefield represented Prologis. In addition, K2 Express signed a long-term lease at a neighboring four-acre trailer yard. Carroll represented the tenant, while Steve Levitas and Bob Chodos of NKF represented the landlord, Hill Mechanical.
HOUSTON — NAI Partners has negotiated the sale of a distribution center totaling 172,848-square-feet located at 175 Southbelt Industrial Drive in Houston. Clay Pritchett of NAI Partners represented the buyer, TTD Houston Realty LLC, a subsidiary of New England-based online furniture importer and distributor East-West Furniture LLC. The company will relocate its entire operation from the Boston area to Houston. Derek Russell and Larry Gray of Oxford Partners represented the seller, CLARK-ELLIOT LLC.
KENNEDALE, TEXAS — Karr Self-Storage, a division of Marcus & Millichap, has brokered the sale of Kennedale Self Storage, a 324-unit facility in Kennedale, a southeastern suburb of Fort Worth. The drive-up, non-climate-controlled units total 36,810 net rentable square feet. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a private investor who built the property in 1985, in the sale. A Dallas-based self-storage owner/operator purchased the property for an undisclosed price.
ROWLETT, TEXAS — Lee & Associates has arranged the sale of a 21,400-square-foot industrial building located at 5201 Grisham Drive in Rowlett, an eastern suburb of Dallas. Taylor Stell, Brett Lewis and George Tanghongs of Lee & Associates represented the seller, Favcon Partners, in the transaction. Other terms of sale were not disclosed.