A multi-million dollar logistics center is headed for 324 acres in Spartanburg County near BMW Manufacturing Co. and the South Carolina Ports Authority’s Inland Port Greer.
St. Louis-based CRG, a private real estate investment affiliate of Clayco Inc., announced Thursday it is ready to move forward with the Inland 85 Logistics Center of Spartanburg County.
The property is comprised of multiple parcels in the vicinity of Genoble and Robinson Roads near Minghua USA, Berrang, and Lear Corp.
“CRG has looked for superior sites throughout the Greenville–Spartanburg industrial market and Inland 85 Distribution Center will deliver to today’s modern industrial user,” said Mike Demperio, CRG’s Southeast partner, in a statement. “We see significant opportunity along the I-85 corridor with immediate access to South Carolina Inland Port, Greenville-Spartanburg International Airport and close proximity to the Port of Charleston, Columbia, Charlotte, Savannah and Atlanta.”
“This is one more step CRG is taking to enhance its industrial portfolio in the market,” Demperio added.
CRG said the first phase of the project will be construction of a 500,280-square-foot speculative, or spec, building that will be expandable to nearly 1,186,680 square feet and available for occupancy by the fourth quarter.
The state-of-the-art warehouse will have 36-foot tall ceilings, ample trailer storage, and parking for associates, said CRG, which also developed a 432,000-square foot warehouse in Greenville for Bausch + Lomb, a Valeant Pharmaceuticals International company.
A preliminary site plan from the company showed as many as six buildings at the center with the potential to provide an additional 2.3 million square feet of industrial space.
“I think this is fantastic,” said Spartanburg County Councilman David Britt. “We’ve been working really hard with that group since this summer. This is evidence of the inland port’s and BMW’s impact. They continue to pay dividends for Spartanburg.”
The company did not disclose its investment in the project.
County Council documents discussing incentives for the project said it would be an investment of at least a $194 million.
CRG said The Net Lease Group in Atlanta arranged the capital source for the project.
“We are thrilled to be included in the process of bringing an outstanding institutional level development to our area,” Scott said. “We believe these types of investments continue to bolster the reputation of our market as a fantastic place to invest. The spec building they are developing is designed with flexibility to meet the needs of a number of users. It is ideally situated to take advantage of the operational and logistical services offered by the S.C. Ports Authority’s Inland Port terminal.”
In addition to its headquarters in St. Louis, CRG said it has offices Chicago, Sacramento, Atlanta, Pittsburgh and northern New Jersey.
The company said it has developed more than 5,000 acres of land and delivered about 160 million square feet of commercial, industrial, and multi-family assets exceeding $9 billion.