1298 New Minimize Street. Picture courtesy of Blue Vista Capital Companions
A three way partnership between Blue Vista Capital Administration and IP Capital Companions has acquired a 56-acre industrial website in Spartanburg, S.C., which consists of a 201,718-square-foot manufacturing and warehouse constructing and 31 acres of land. The earlier proprietor was Schaeffler Group, in line with CommercialEdge information.
Accomplished in 1975, the constructing is situated at 1298 New Minimize Street. It options 4 dock excessive doorways, three drive-in doorways, a number of factors of ingress and egress and two transformers providing 8,000 amps of energy at 480 volts, together with 300 parking areas. The property can be absolutely air conditioned.
Located near interstates 85 and 26, and inside accessible vary of Interstate 585, the property is a few 16 miles from Greenville-Spartanburg Worldwide Airport and 15 miles from Inland Port Greer. It’s also roughly 70 miles from Charlotte Douglas Worldwide Airport and fewer than 8 miles from Spartanburg Downtown Airport.
Blue Vista Managing Principal & Co-Head of Fairness Brandon Goetzman acknowledged in ready remarks that there’s important demand for mid-sized industrial area within the South Carolina Upstate area. Nationally, demand for industrial property stays wholesome, however just isn’t proof against financial crosswinds. The 65 million sq. ft absorbed within the first quarter of 2023 nonetheless represents a 40 % drop from 2022’s final quarter, a Newmark report reveals.
