Hot Properties, July 27, 2021

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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.

Wharton Industrial, a subsidiary of real estate investment firm Wharton Equity Partners, has sold Smith Farms, a two-building, 600,000-square-foot industrial development in Greenville.

Wharton Industrial and its partner, Red Rock Developments, first acquired the 47-acre parcel of land in 2018, and the two companies developed the warehouse facilities together, according to a news release. The development sits on S.C. Highway 101, less than three miles to Interstate 85, four miles from the BMW’s Plant Spartanburg and nine miles from Inland Port Greer.

“We were immediately drawn to the Greenville area, which is centrally located between Atlanta and Charlotte and also benefits greatly from the presence of BMW’s manufacturing plant,” Peter C. Lewis, chairman of Wharton Industrial, said in the news release. “The demand for large industrial properties in the Sunbelt has only grown since we developed these facilities and we’re proud to capitalize on these market conditions and deliver strong returns to our investors.” 

Wharton Industrial has a record of developing modern warehouse and industrial facilities in proximity to highly populated metropolitan centers, often leasing them to major e-commerce and retail tenants, the release said. Sales in the last 12 months include a 510,000-square-foot industrial facility in Lakeland, Fla.; Florida Crossroads Logistics Center, a 617,046-square-foot industrial project in Ocala, Fla.; and a 280,000 square-foot last mile warehouse in Philadelphia, which Wharton first leased to Amazon before selling the property for $70 million, the release said. 

“We’re eager to continue to deploy capital and pinpoint future e-commerce distribution and logistics hubs to create along the Eastern Seaboard and Florida,” Lewis said in the release.

Avison Young commercial real estate's Rakan Draz, John Odom and James McKay represented the seller in the sale of a 1,491-square-foot building at 24 Traction St. in Greenville.

Pete Brett and T Cox of Coldwell Banker Commercial Caine represented Gentry Place SC LLC, which bought a lot at 2663 Gentry Memorial Highway, Pickens, from Jerry D. Roberts and almost five acres of property at 106 Roberts Dr., Pickens, from Jerry Roberts, Margaret R. Waldrop and Diane Henderson.

Dillon Swayngim, Chuck Salley, Dave Mathews, Thomas Beard and John Peebles of Colliers represented the seller, Cat Real Estate Holdings LLC, and the buyer, Lendall Lake LLC, in the investment sale of a 4,879-square-foot industrial building at 155 Dexter Road in Spartanburg.

Scott Burgess and Lance Byars of Colliers represented New Market Anderson LLC in the lease of 1,600 square feet of retail space at 651 Highway 28 Bypass in Anderson to Smoke Stars Vape and Smoke.

Kevin Pogue and Dan Dunn of NAI Earle Furman represented the seller, American First Federal Inc, in the sale of a 59,724-square-foot industrial property located at 298 Commercial Road in Spartanburg to Dingler US Properties Inc.

John Powell and Michael Branch of NAI Earle Furman represented the seller, JLT Investments, LLC in the sale of a 2,750-square-foot office property at 110 Montgomery Drive in Anderson to Learn Upstate LLC.

Monty Todd and Josh Tew of Pintail Capital Partners represented the tenant, Early Autism Project Inc., in the lease of 6,000 square feet of property at 1 Marcus Drive in Greenville from ROIB 385 Greenville LLC.

Jeff Day and Tyson Smoak of Pintail Capital Partners represented the landlord, DGV LLC, in the sale of an 11,500-square-foot building at 180 Halton Road in Greenville to buyer 180 Halton Road Partners LLC.