Terms of the acquisition were not disclosed, but the venture has employed NAI Earle Furman to handle the management, marketing and development of the park as well as helping to oversee the rebranding of the 1,100-acre facility located near the South Carolina Technology and Aviation Center.
Duke Energy has electricity while Greenville Water provides water service and Piedmont Natural Gas runs gas lines into the complex.
“We were excited that we would have the ability to work with a private partner,” said Mark Farris, president and CEO of Greenville Area Development Corp. “Ultimately, that is our goal and TPA has expressed an interest in spec buildings so that checks off a lot of boxes.”
The new ownership said it plans to install new signage, landscaping and lighting at the park. The new signage and landscaping upgrades are scheduled to be installed in the fall while the lighting and other infrastructure upgrades will continue into 2017.
“You take a park like this with infrastructure and tenants in place and it gives you the opportunity to build different kinds of things … whatever the market might need,” said Tom Daniel, broker and shareholder with NAI Earle Furman.
The TPA Group is an Atlanta-based private real estate investment, acquisition and development firm. Appian Investments is based in Greenville and is a private investment group.