Stable Lease Term and Attractive Rent Growth: Both Qualflex Technologies and Fenecon International committed to new 7-year NNN leases with 3.0% and 3.5% annual increases, respectively, offering investors investment stability and strong NOI growth.
Proven Tenants: Qualflex Technologies provides silicone sealants to the industrial and transportation sectors. Since being founded in 2020, Qualflex has expanded their manufacturing facility from the neighboring building (315 Tanner Price) to accommodate their rapid growth and support of Greenville/Spartanburg’s booming automotive and industrial industries. Fenecon International is a high-tech German company whose products are advancing energy transition and storage through award-winning innovative solutions. This location was chosen as their North American headquarters due to South Carolina’s increased focus on advanced energy.
Class A Industrial Design: This best-in-class property features tilt-up concrete panel construction, 32-foot clear height, open distribution space, two drive-in doors with two additional future knockouts, 17 dock doors with 16 additional future knockouts, LED lighting, ESFR fire suppression, ample power infrastructure, and a 15-year roof warranty.
Advantageous Logistics and Distribution Location: Situated directly on I-85 (Nominally North/South), and only minutes from I-26 (Nominally East/West), the property offers exceptional access to 102M consumers, 31% of the US population, within a one-day drive. Additionally, the property is located just 4.4 miles from Greenville Spartanburg International Airport, moving 60K tons of cargo every year, and only 9 miles from the Inland Port of Greer, moving over 175K shipping containers annually via direct rail access to the Port of Charleston, the deepest seaport on the East coast.
Mission-Critical Distribution Location: The property offers direct access to skilled labor (28,500 technical college students), a pro-business state ranked #2 for business incentives, right-to-work state, low-cost of living, big city amenities, major interstate access, the Inland Port of Greer providing a direct rail line to the Port of Charleston, and much more.
Located directly on the “Boom Belt”: Interstate 85 is the region’s undisputed king of commerce, dominated by automotive manufacturing. According to data from the Conway Projects Database, virtually every county along I-85 regularly lands at least one economic development project each year. Last year, Greenville County ranked 2nd with 28 new projects, only behind Fulton County, GA (Atlanta).
Market Conditions: Strong economic indicators for growth in the region have led to new spec construction. There has been an influx of new national and international companies moving to South Carolina in favor of a more stable and beneficial economic and logistics environment. This is favorably impacting vacancies in the leasing market, as well as overall capital investment from companies establishing a foothold in this market building new facilities.
Booming Greater Market: Greenville is one of America’s hottest emerging destinations and fastest growing cities. From a revitalized downtown ranked among “America’s Ten Best” to the influx of major employers such as BMW Manufacturing, Michelin North American Headquarters, GE, and Lockheed Martin Aircraft, Greenville has grown into one of the top places to live in the Southeast.
Explosive Regional Growth: The Greenville/Spartanburg industrial market is one of the most active markets in the country due to its location on the I-85 “Boombelt,” a high growth corridor extending from Atlanta to Raleigh reporting a 40% higher growth rate than the rest of the U.S. Migration of capital to the Southeast has had a tremendous impact on the market evidenced by asset demand and appreciation.
