Hot Properties: Brennan plans 3 buildings in Spartanburg

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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.

Brennan Investment Group plans to build three distribution buildings totaling 814,320 square feet of space at the intersection of Warren H. Abernathy Boulevard and International Park Drive in Spartanburg.

Brennan said in a news release it purchased the 79-acre site because it’s close to Interstate 85 and near Interstate 26 and Greenville-Spartanburg International Airport.

Brennan is a private real estate investment firm that acquires, develops and operates industrial facilities throughout the United States. The company called the site the most active industrial submarket in the Greenville-Spartanburg area. The site is zoned industrial and is accessible from a lighted intersection at Warren H. Abernathy Boulevard and International Park Drive.

"The site is ideal for industrial development. Its location near the crossroads of Interstates 85 and 26 will give tenants unparalleled and efficient access to their customers throughout the Carolinas," Rob Gage, senior vice president at Brennan, said in the news release. "The presence of BMW, Milliken and Michelin will bring increased demand from a multitude of critical suppliers who service these large-scale manufacturing operations."

"Brennan's strategy is to develop in major U.S. markets where positive demographic transformation is underway," Scott McKibben, Brennan's chief investment officer, said in the release. "South Carolina was fourth in overall population growth for the last two years. That growth and a relative strong labor pool has attracted major industries, both domestic and international, to South Carolina. The net result is strong demand for modern industrial distribution facilities."

Brennan Investment Group, a Chicago-based company, has acquired or developed $5 billion in industrial real estate in 30 states since 2010, the release said. The company's current portfolio spans 27 states and encompasses approximately 46 million square feet.

Hubbard-Hall invests in Inman

Jordan Skellie, senior associate and principal of Lee & Associates Greenville/Spartanburg represented Hubbard-Hall Inc., the country’s oldest independent chemical distributor and manufacturer, in the acquisition of a 70,368-square-foot industrial facility in Inman. This facility will almost double Hubbard-Hall’s existing production capacity in the Upstate and is expected to be fully operational by the first quarter of 2023. Hubbard-Hall established a presence in Inman more than 40 years ago.

This new facility is key to Hubbard-Hall’s plan for serving and growing its customer base in the Upstate and will house chemical manufacturing, research and development and technical support staff, according to a news release that said millions of dollars will be invested in the facility, positioning the company for growth and job creation.
“Our employees are critical to our success and by choosing to expand here we hope to deepen our existing relationships and retain our workforce,” Molly Kellogg, CEO of Hubbard-Hall, said in the news release. “We are building a company for the next generation and our decisions must reflect that pledge. I’m now the sixth generation in my family to lead this company and acquiring this new facility drives our 170-year mission of building a sustainable business, creating a culture that fosters collaboration, and taking care of our people.”

Jordan Skellie of Lee & Associates worked with Kellogg and her team as the lead real estate broker for this transaction and guided them through the entire process.

“It was a privilege to work with Molly and her team on acquiring this facility,” Skellie said in the release. “We worked with Hubbard Hall for two years exploring options before this property went on the market. The new facility’s proximity to their current location in Inman will allow Hubbard Hall to expedite production and retain the people that have contributed to the company’s growth.”

Other recent commercial transactions include:

Jeff Day and Ross Kester of Pintail Capital Partners represented the seller, 200 S. Main Street Partners LLC, in the investment sale of Popeye’s located at 200 S. Main St. in Mauldin to buyer Lam Mauldin Popeye’s LLC.

Josh Tew and Monty Todd of Pintail Capital Partners represented the tenant, Graycliff Capital Management, in the lease of a 5,191-square-foot office space at 200 E. Broad St. in Greenville from landlord 200 East Broad LLC.

Lakin Parr and Jeff Day of Pintail Capital Partners represented the buyer, Circle K Stores Inc., in the purchase of 2.17 acres at Butler Crossing on E. Butler Road in Greenville from seller Jack E. Shaw.

Tim Satterfield of Coldwell Banker Commercial Caine represented Deborah N. Clary in the sale of a 4,947-square-foot office building on a lot at 380 Powell Mill Road in Spartanburg, to Dawkins-Caldwell Investments LLC.   

Tim Satterfield of Coldwell Banker Commercial Caine represented Mark Allen Anderson and John Leslie Anderson, who sold about 18 acres at Gas Plant Road in Moore to the Malcolm Family Revocable Living Trust.

Scott Burgess and Lance Byars of Colliers represented McAlister Court LLC in the lease of 4,130 square feet of retail space at 1607 Laurens Road in Greenville to Kartwheels and Moonbeams LLC.

Steve Greer and Matt Carter of Joyner Commercial represented the seller, RKP Properties LLC, in a sale of 9,471 square feet of retail space at 242 W. Wade Hampton Blvd. in Greer.