FEATURED PROJECT

Strato Capital Closes on 566,000 SF Warehouse in Upstate South Carolina

Clinton Distribution Center

566,000 SF Warehouse in Upstate South Carolina

Strato Capital, LLC, closed on the purchase of a 566,479 S F warehouse, located south of Greenville/Spartanburg. The property is off of I-26 and nearby BMW’s recently announced $1.7 Billion investments in EV and High-Voltage Battery Assembly facilities.

Strato Capital led all aspects of sourcing and closing the transaction. “We are pleased to have closed on this purchase in about 40 days,” said Darren Hirsch, Managing Partner. “We also appreciate the support of the Colliers team, the seller Griffin Realty Trust, and our financial partner. It was a swift and well-executed transaction by all.”

The Greenville-Spartanburg industrial market has less than 3% vacancy. There are no other 500,000 SF warehouses in Laurens County, where the building is located , that can handle manufacturing and warehousing needs. Ownership plans to perform some updates and make the property available for lease at market rate in July of this year, when the current tenant vacates. “This asset adds a critical component to our Southeast value-add strategy. This was a competitive process and our first major acquisition in the market,” said Brian Nelson, Managing Partner.

The property, located at 1702 Springdale Drive in Clinton, SC, is ideally situated near major highways, and between major Seaport and Greenville/Spartanburg. The building has up to 28-foot clear ceilings, 400-foot-deep truck courts, 44 dock doors, 4,000 amps of power, and an ESFR sprinkler system. There is substantial on-site employee parking and trailer parking. “We’re looking forward to selectively sourcing and announcing additional acquisitions in the near future,” added Darren Hirsch.

Strato Capital focuses on acquiring and managing industrial, office and mixed use projects, primarily in the Southeast, US, with a particular interest in value-add and core-plus assets. Its principals are driven by analysis, integrity and collective experience.