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Real Estate - Commercial

Hot Properties, Oct. 5, 2021

Real Estate - Commercial
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Dollar General is expanding their distribution capability with a new industrial space at 1375 Howell Road in Duncan. The site is near Inland Port Greer.

The distribution facility was already configured to suit Dollar General's needs, enabling the company to begin operations almost immediately. (Photo/Provided)Mapletree Investments leased about 308,000 square feet of industrial space to the retailer to expand their distribution footprint. The property is just off S.C. Highway 290 with a building configured for distribution with cross-dock orientation and about 3,600 square feet of shipping and receiving office space, which enabled Dollar General to moving in right away and begin operations, according to a news release.

The owner and landlord of the building, Singapore-based Mapletree Investments, was represented in the transaction by the Colliers industrial team of Garrett Scott, John Montgomery and Brockton Hall.

“Demand for move-in ready industrial is higher than ever in the Upstate of South Carolina right now,” Mapletree Investments asset manager Scott Silver said in the release. “This dynamic, combined with the Howell Road building’s size, orientation and proximity to I-85 and the inland port in Greer, translated into a tremendous amount of interest as soon as the availability rolled out to the market. By partnering with the Colliers team we were able to secure a mutually beneficial lease for all parties in a very short period of time and are pleased to welcome Dollar General as the newest tenant in our portfolio.”

The Greenville-Spartanburg industrial market has absorbed a large percentage of existing space, with an estimated 7 million square feet absorbed from January to August, according to Colliers. This demand is spurring new development across the Upstate and shorter vacancy timeframes for existing buildings, including the property at 1375 Howell Road.

Colliers reported last year that retail companies like Dollar General have seen growth during the pandemic.

The following commercial real estate transactions were recently completed in the Upstate. For weekly updates on commercial deals, see the Hot Properties feature every Tuesday in the GSA Business Report Daily email.


356 Centerpointe Blvd., MauldinThe former Samsung Call Center located at 356 Centerpointe Blvd. in Mauldin has been purchased by a charter school.

SVN Blackstream adviser Shannon Donahoo represented the buyers of the 80,000-square-foot property.

Plans are underway to open for the 2022-2023 school year and serve more than 1,100 students, according to a news release.


Avison Young commercial real estate said Rakan Draz, James McKay and John Odom represented Arlington Property Ventures in the purchase of a 3,500-square-foot retail building at 3518 Clemson Blvd. in Anderson from Miriam and Victor Ludwig Trust for $1.8 million. John Wright Sr., of McCoy Wright Commercial Real Estate, represented the seller.


Subsurface Construction Company LLC leased 3,000 square feet of industrial space at 8 Dixie Circle in Greenville. Kyle Berdugo and Laura Harmon of Cushman & Wakefield handled the lease negotiations on behalf of the tenant.


Harry Croxton and T Cox of Coldwell Banker Commercial Caine represented Mountain City Land & Improvement Co. LLC in leasing a 1,066-square-foot office space at Innovate, 148 River St., Suite 110, in Greenville, to Richloom Fabrics Group Inc.


Scott Burgess and Lance Byars of Colliers South Carolina represented Kimco in the lease of 1,580 square feet of retail space at 27 S. Pleasantburg Drive in Greenville to Home Decor.


Greyson Furnas of Colliers represented Inman Investment Properties in the purchase of about 89 acres on S.C. Highway 292 and Mitchell Farm Road in Inman for $1,606,000.


Rick Hammett of Langston-Black Real Estate represented the seller, E Squared Investments LLC, in the sale of their 9,100-square-foot flex building at 136 Johns Road in Greer. The Purchaser, TRP 136 Johns Road LLC, was represented by Marty Murphy of McCarthy Duffy LLP.


Alex Campbell of NAI Earle Furman represented the landlord, Greenville Business Center LLC, in leasing a 4,633-square-foot industrial property at 171 Johns Road, Suite B, in Greer, to Huxtable Electric Inc. McNeil Epps and Keith Jones represented the tenant.


Josh Tew and Monty Todd of Pintail Capital Partners represented the landlord in five leases for a total of 11,166 square feet of space in Pelham Court, located at 115 Pelham Road in Greenvillet.


Ross Kester of Pintail Capital Partners represented the seller of a 3,300-square-foot retail building leased to Bank of America in Seneca.


Zach Hines and Cameron Smith of Spencer/Hines Properties represented the landlord, Rallis Holdings LLC, in leasing 1,020 square feet of office space at 631 Augusta St., Greenville, to Alloy Wealth Management Inc. Alloy Wealth Management is a wealth management firm serving the Carolinas.


 

 

Reach Ross Norton at 864-720-1222.

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