Greenville, S.C. – April 29, 2020 – CBRE has arranged the sale of a 154,000-sq-ft. fully leased industrial property in Roebuck, S.C. The property is located at 1360 Old Georgia Road in the prime Spartanburg East submarket. The property was sold to a confidential private capital buyer from New Jersey after receiving multiple offers.
CBRE’s Tripp Sellers, Trey Pennington, and Jeff Benedict represented the seller in the transaction.
“The close proximity to I-26 and high-quality building features made this industrial space extremely attractive to investors and its tenant. The Greenville-Spartanburg industrial market remains attractive to investors, developers, and occupiers alike due to strong fundamentals, such as an extensive transportation infrastructure network, an educated workforce, and a favorable tax environment,” said Tripp Sellers, vice president at CBRE.
SupplyOne, a packaging manufacturer and distributor is the building’s single tenant. The property is located on over 12 acres with close access to Interstate 26. Two buildings make up the property with 5,000 sq. ft. of office space.
According to CBRE Research, Spartanburg County specifically has propelled absorption numbers as 17.8 million sq. ft. has been absorbed in Spartanburg County since Q1 2016, accounting for 71 percent of all industrial space absorbed in the Greenville-Spartanburg industrial market.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.