Former Goodyear facilities in Spartanburg sold for $2.2M

Bridgeway Realty LLC has purchased and will redevelop two 150,000-square-foot buildings at 200 and 280 National Avenue near the intersection of Interstate 26 and New Cut Road in Spartanburg County.

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Two vacant industrial buildings in Spartanburg County, including this facility at 280 National Avenue, have been sold and will be renovated for future use.

Two industrial buildings from Spartanburg County’s textile past will get a new lease on life.

Bridgeway Realty LLC has purchased the facilities at 200 and 280 National Ave. on more than 21 acres near the intersection of Interstate 26 and New Cut Road for $2.2 million.

The buildings, which each total about 150,000 square feet, were originally built in the early 1970s as part of apparel maker Jonathan Logan Inc.’s operation.

United Merchants and Manufacturers Inc. took ownership of the facilities after it acquired Jonathan Logan in 1984.

Property records showed United sold the buildings in 1995. Since then, they have changed hands a few times and housed several different tenants.

The facilities are probably best known for their use as a distribution center for The Goodyear Tire and Rubber Co.

Bridgeway is the commercial real estate affiliate of the Beltsville, Md.-based automotive parts manufacturer Custom Performance Engineering (cp-e).

Cp-e was founded in 2003 by Joseph Anthony Adams, originally of Charleston, and Anthony Joseph Messina, of Sharon, Penn.

Adams, who serves as chief financial officer and treasurer of cp-e said the company plans to invest a significant amount to renovate both facilities, including replacing their roofs and raising the ceiling heights to 34 feet.

Cp-e and three of its sister companies — Long Tube Headers, Custom Performance Coating, and an unnamed logistics export company — could relocate from Maryland to the facility at 280 National Ave., Adams said.

Custom Performance Coating would continue to operate a second facility in Maryland.

Adams said the relocation, which might be in full swing by June, would impact 25 employees.

After the renovations are complete, Bridgeway plans to lease the facility at 200 National Ave., he said.

The facility at 200 National Ave., which was also purchased by Bridgeway Realty, will be available for lease after it is renovated.

“We’re very excited and motivated,” Adams said. “Spartanburg is the land of opportunity. … We certainly hope all of our employees will come down with us.”

About three years ago, the company began looking for expansion opportunities near Charlotte, N.C., and in the Upstate.

Adams said company officials first looked at the facilities off National Avenue two years ago and decided to take another look one year ago.

Adams said in addition to the new roofs, Bridgeway’s revitalization of the property will include new solar panels, truck courts, landscaping, resurfaced asphalt, and a range of other improvements.

He said the anticipated energy output for the solar equipment will be about 1/2-megawatt per building.

“We came up with a million reasons why this was never going to work,” Adams said. “We really were enthralled by the renaissance in Spartanburg County. … We saw a way to take some rusty nails and turn them into something Spartanburg can be proud of. These facilities have been dragged through the mud. They haven’t been taken care of the way they should’ve been. Out of all of the buildings we looked at, these were the second-most dilapidated.”

“We’re looking to create a network, create ties with the community,” he added. “If everything goes according to plan, we will continue to try to be a part of the renaissance of Spartanburg through the textile industry.”

Adams said the facilities are attractive because of their proximity to I-26 and I-85, as well as other local industry, such as Amazon, Adidas, and BMW.

Perry Major with Avison Young represented the seller Castlebridge Properties in the transaction. Richard Barrett with Colliers International represented Bridgeway.

Major said he will work with Bridgeway to lease the 200 National Ave. facility. Major can be reached at 864-567-7739 or perry.major@avisonyoung.com.

Adams said Bridgeway will also work with Barrett.

 

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