HFF announces $18.5M sale of 229,950-square-foot industrial facility in Greenville-Spartanburg
CHARLOTTE, NC – October 12, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $18.5 million sale of Magna Distribution Center, a 229,950-square-foot, fully leased, Class A+ warehouse and distribution facility in the Greenville-Spartanburg area of Moore, South Carolina.
The HFF team represented the seller, SunCap Property Group. A private investor purchased the asset.
Recently completed in 2017, Magna Distribution Center is a build-to-suit for Magna Seating of America, Inc., an industry-leading advanced automotive seating manufacturer. The 229,500-square-foot building has an expansion capacity of approximately 50,000 square feet and features 214,450 square feet of production space, 15,500 square feet of office space, LED lighting, 50-by-50-foot column spacing, 32-foot clear height, 30 dock-high doors, 13 knock-out panels, 20 trailer stalls and 250 employee parking spaces. Situated on 19.71 acres within the 882-acre master-planned Tyger River Industrial Park North, Magna Distribution Center is situated along Route 290 and has access to Interstates 26 and 85, the industrial “backbone” of the southeast. Additionally, the property is in the Route 290 Industrial submarket, a major automotive hub that is approximately 10 miles from BMW’s 1,150-acre Greer manufacturing plant.
The HFF investment sales team representing the seller consisted of senior managing director Chris Norvell and director Patrick Nally.
About SunCap Property Group
SunCap Property Group is a privately held, national commercial real estate development, investment and advisory firm. The firm specializes in the development of speculative and single-tenant build-to-suit facilities, the creation of mixed-use and multifamily communities and the acquisition of institutional-grade real estate in key markets. Clients across North America benefit from its corporate real estate advisory services. As a client-centric development company, SunCap Property Group is driven to develop cost-competitive quality projects that enhance its clients' work environment, maximize their operating efficiencies and improve their bottom line. Learn more at suncappg.com.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information please visit hfflp.com or follow HFF on Twitter @HFF.