Global automotive manufacturer and BMW supplier Faurecia sold its previous Spartanburg manufacturing facility for $3.5 million to real estate investment company Reger holdings LLC, according to a news release by Colliers International.
Faurecia announced plans to close the 133,240-square-foot plant in June 2014 as part of a plan to restructure its manufacturing resources, and said it would continue operating its Fountain Inn facility. The Spartanburg site at 261 New Cut Road will be added to Reger Holdings’ Carolina Industrial Properties portfolio.
Reger Holdings’ portfolio contains more than 4 million square feet over 30 buildings across 13 South Carolina counties. The company has leased more than 2 million square feet of industrial space to 32 companies that employ 650 workers. Colliers International’s industrial specialists represented the seller, Faurecia Emissions Control Technoogies LLC, and the purchaser Reger Holdings.